Get Affordable Installment Payments!
Most taxpayers are unable to pay their tax debt in a single payment, especially if it is in the thousands. That is why the IRS has a debt repayment program that allows taxpayers to pay their debt amount in monthly payments. While there are different types, this program is commonly referred to as an Installment Agreement. Let us help to walk you through this difficult process. We know how to get you back into a place of stability and peace of mind.
Installment Agreement Facts
An Installment Agreement is the most popular type of IRS payment plan. In this plan, clients pay the IRS regularly over a set period of time. How much the payments are and the length of the time frame will depend on the IRS’ calculations. The two most common ways of spreading out the payments are to divide the total debt over 72 months or the number of months left within the Statute of Limitations.
Installment Agreement Types
There are various Installment Agreements taxpayers can apply for, depending on their tax situation and personal circumstances, including:
- Non-Disclosure Installment Agreement
- Full Disclosure Installment Agreement
- Partial Payment Installment Agreement
- Tiered Installment Agreement
Once a taxpayer enters into an agreement with the IRS, the terms are binding, and any default may bring aggressive collections. Therefore, taxpayers who are interested in any of the above mentioned Installment Agreement options should consult with a tax professional before applying. While some find this step hard to take, this will make sure that they reach the best possible payment outcome. Call today for a free consultation about the facts on the IRS’ Installment Agreement programs. You’ll be glad that you did!
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