Flexible Payment Plan
Manage Your IRS Tax Debt
An Installment Agreement is a long-term payment plan with the IRS that allows you to pay your tax debt in manageable monthly payments over time. This solution is ideal if you can’t pay your tax bill in a lump sum but have the financial ability to make regular payments. Securing an Installment Agreement is a proactive way to avoid further penalties and more aggressive collection actions like levies and wage garnishments.
What Is an Installment Agreement?
An Installment Agreement, sometimes referred to as a payment plan, is a formal arrangement with the IRS to pay off a tax debt over a period of up to 72 months. The agreement is a binding contract that allows you to pay down your debt at a pace you can afford. Interest and penalties will continue to accrue, but at a reduced rate compared to an unpaid balance, and it stops the clock on other collection methods.
Who Is Eligible for an Installment Agreement?
You are generally eligible for a streamlined Installment Agreement if your combined tax, penalties, and interest are under $50,000. For amounts over $50,000, a more detailed financial statement is required. To qualify, you must have filed all of your tax returns and be in full compliance with all other tax obligations.
Benefits of a Structured Payment Plan
Stops IRS Collection Actions: Once your Installment Agreement is in place, the IRS will cease most enforcement actions, providing you with immediate relief.
Financial Predictability: You’ll have a clear, fixed monthly payment, making it easier to budget and manage your finances.
Avoids Bank Levies and Wage Garnishments: A payment plan is an effective way to protect your assets and income from being seized by the IRS.
Our Role in Securing Your Agreement
Navigating the IRS’s requirements can be confusing. Our team simplifies the process by:
Assessing your financial situation to determine a realistic monthly payment.
Preparing all necessary forms and documentation.
Communicating directly with the IRS on your behalf to secure the agreement.