IRS Payment Plans
Installment Agreement: In simple terms this is a payment plan. What is not simple is determining the appropriate TYPE of payment plan and the Most Favorable monthly payment amount. Many taxpayers are unaware of the requirements and pitfalls of setting up a payment plan on their own with the IRS. You can bet a dime to a dollar that the IRS will want to set up a payment plan that is in its best interest NOT YOURS. You can level the playing field by having me work to protect your interests and set up a payment plan that is optimal for you.
There are several types of payment plans available. Some plans that are available are the Full Pay Installment Agreement, Partial-Pay Installment Agreement, and the Stream-Line Installment Agreement. Each one of these plans has its own qualifications, benefits, and pitfalls. Did you know that the Partial-Pay Installment Agreement is considered a back door Offer In Compromise? What’s that you ask? This means if you qualify for a Partial-Pay Installment Agreement you will not be responsible to pay the full amount that you owe. Instead, you will pay what you can until the 10 Year Collection Statute expires.
When I set up payment plans for my clients, I negotiate the lowest legally allowable monthly payment amount. My goal is to achieve the most favorable outcome for EVERY client. Do not make the mistake of negotiating your own installment agreement without seeking my professional advice. Call Me Now to see what you qualify for!