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IRS Payment Plans

Payment plans for working with the IRS

If you are in a position where you might be able to pay your previous year's taxes back over a span of time but are not currently able to pay them back fully, you might be able to work out a feasible plan for monthly repayment with the IRS.

You don't have to fear reprisal for IRS back taxes; rather, you can work to repay your IRS debt by signing up for an IRS payment plan, which is also called an Installment Agreement.

Once this system to pay IRS back taxes has been set up, the IRS will not try to enforce any actions of collection against you, which might include levying your wages or your bank account. This will remain in effect as long as you keep up to date with all of your obligations for both payment and filing, per the terms of the agreement.

 

Why consider using professionals in taxes to help you set up your IRS repayment plan?

It doesn't matter if the IRS wants you to take care of all of your IRS back taxes at once or whether you have a payment plan to settle your IRS debt that is significantly higher than what you can handle on your own.

In either case, we can help you set up a IRS payment plan, which is also known as an installment agreement. This will help you get rid of your IRS back taxes and IRS debt so you can get your life back from the IRS.

When you work with our firm of qualified tax attorneys, CPAs, and tax resolution specialists, you will significantly up your odds of resolving IRS back taxes and similar IRS debt for a smaller amount than you might already owe. We might also be able to help you get your IRS imposed levies removed in less time.

Beyond this, we can also keep you from spending more money than you need to by working with you to negotiate low monthly installments and payment plans. Some of these include payroll deduction, payment through money orders and checks, or debit cards.

Because the IRS is not going to agree to an installment agreement until you have filed all of your relevant tax returns, we will help file your back taxes so you are in compliance before we set up an IRS debt repayment plan to settle your back taxes.

 

How to work with the IRS to set up a plan for payment to balance your IRS debt

If you owe less than $10,000 and have filed your returns and do not have a history of problems with the IRS, generally, you will be able to qualify for an IRS payment plan as long as you are able to pay off your balance in 3 years. This is usually possible to get done by the taxpayer without needing representation.

If you have between $10,000 and $25,000 owed in IRS back taxes and all your returns have been filed, you can set up a streamlined payment plan with the IRS. You will need to disclose some financial information, which is achievable through completing a small case collection information statement.

There are also options for taxpayers owing between $25,000 and $100,000 and those who owe more than $100,000; these options will require more information and scrutiny.

 

What if I can't get an IRS payment plan?

If you aren't qualified to set up an installment agreement with the IRS, we will work with you to get another form of tax relief set up, including offers in compromise, statute of limitation reviews, reasonable cause penalty abatement, or other methods of negotiation to resolve your tax problem.

 

Reasons to hire a tax resolution specialist or tax attorney

While you are legally free to represent yourself when facing the IRS in order to take care of problems with your taxes or resolve issues with back taxes, a number of people come to realize that it is frustrating, intimidating, or simply a large time investment to work with the IRS.

As a result, they decide it would be more to their benefit to look into professionals for tax assistance, such as a tax resolution firm, a dedicated tax attorney, or similar services, in order to find a settlement that results in tax relief from the demands of the IRS. The attorney or firm works on the taxpayer's behalf to set up the agreement, allowing the taxpayer to get on with his life.



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