IRS PAYMENT PLAN

If you don’t qualify for the IRS Offer in Compromise program, a payment plan may be the way to resolve your problem. Setting up a payment plan with the IRS gives you a little more time to pay off your tax debts. Unfortunately, penalties and interest will continue to be charged on your outstanding balance as you pay the debt off. You are required by law to pay the interest on your tax debt. The good news is that there’s a chance we can get your tax penalties removed.

IRS suspends all collection activities if you enter into an installment agreement and agree to pay what you can afford each month. IRS agrees to stop collection actions while you make these payments. The IRS has 10 years to collect from you, thus your installment agreement can go on for several years. Installment agreement needs to be approved by the IRS and we will help you ensure it is done correctly.

The amount you will need to pay each month is based on a number of factors, including:

  • Your income;
  • Your assets;
  • The amount you owe;
  • Your actual expenses;
  • Your allowed expenses;
  • The remaining collection statute of limitations; and
  • Whether or not you can afford to pay off the debt in full over the collection statute.

Don’t leave money on the table and allow us to negotiate for you. Please remember that an installment agreement is binding. You must pay the amount agreed-upon on time, every month of the year. If you skip a payment, you usually have 30 days to catch up. If you are not able to get current with your payments, the agreement is canceled.