Installment Agreements
We can secure an installment agreement with the IRS to allow monthly payments on your tax liability. The agreement keeps the IRS or the State from levying as long as the payments are paid as agreed. Without an installment agreement, the IRS or State may take all but a small amount of your paycheck. They could also levy bank accounts and file liens on all of your assets including your home. We may be able to combine an Installment Agreement with a Penalty Abatement to save money and get time to pay the rest.
If you do not qualify for the Offer In Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with the IRS allows time to pay your tax debt.
Unfortunately, the IRS or the State continues to add penalties and interest to any unpaid balance. A major benefit of a well-negotiated plan is the level of payment takes into account your living expenses and provides protection from enforced actions. Additionally, they will release levies they have filed once your payment plan is approved. They will not file any new levies as long as you make the agreed upon payments.
If you do not qualify for the Offer In Compromise program, a Payment Plan may be the way to resolve your problem. In addition, we may be able to combine an Installment Agreement with a Penalty Abatement to save money and get time to pay the rest. We’ve helped hundreds of taxpayers get back on track with the IRS using Installment Agreements!
If you have a tax problem and need our help call us today for a free case evaluation.