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Get Tax Help to Negotiate a Fair
IRS Installment Agreement |
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IRS installment agreements are set up between a taxpayer and the IRS, giving you the option of paying the IRS with installments. With each installment, you are responsible for paying off a portion of what you owe, decided by the IRS based on by your income, your other reasonable expenses, and how much you owe.
IRS Payments may be deducted directly from your paycheck or bank account, while another option leaves the responsibility of payment directly up to you.
Streamline Installment Agreement:
You may qualify for a Streamline IRS Installment agreement total balance of unpaid taxes are $25,000 or less.
The Streamline Plan is designed to have your debt paid off in 5 years or less.
In-Business Trust Fund Installment Agreement:
In-Business Trust Fund Express agreements benefit taxpayers because it may be processed quickly, without financial analysis or managerial approval. Guaranteed agreements provide taxpayers with a one-time account delinquency the statutory right to an agreement if their taxes are $10,000 or less, when specific conditions are met. Extensions of time to pay may be granted to taxpayers able to pay by a specific date.
Long-Term Installment Agreement:
In negotiating long-term IRS installment agreement, you must be certain that the tax agencies do not impose unreasonable repayment demands, thus leaving you, the taxpayer, unable to meet their monthly obligations and ultimately pay the IRS over time. Long-Term payment plans can last up to the life of the Collection Statute of the debt.
If you would like to discuss any of your IRS
Installment Agreement options, please contact
Washington
Tax Service today.
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