Installment or Partial Payment Installment Agreement
If you do not qualify for an Offer in Compromise or Currently Not Collectible status, but you still cannot pay your entire tax liability in one payment, the IRS offers the Installment Agreement option. An Installment Agreement payment plan is negotiated with the IRS to make repaying your tax debt more manageable.
There are several repayments plans available, each with its own criteria.
- Streamline (Fresh Start) Installment Agreements are divided into two types: 1. balance due of $25,000 or less, and 2. balance due $25,001 to $50,000.
- Significantly more paperwork is involved if you owe over $50,000 in back tax debt to the IRS.
- Some taxpayers may quality for a Partial Payment Installment Agreement. A Partial Payment Installment agreement means you make smaller payments which total less than the original liability owed.
At Tax Pros Plus, we know how to evaluate your situation and will fight to get you a payment plan that you can afford. We have years of experience advocating for our clients and know the tips that the IRS doesn’t tell you. They are in business to get as much money from you as possible and we are in business to restore your peace of mind and reduce the hardship that back tax debt can cause.