Installment Agreements

When faced with tax debt that cannot be paid in a lump sum, you may qualify for an installment agreement with the IRS. Here’s how it works:

Qualifying for an Installment Agreement

To be eligible for an installment agreement, individuals must owe less than $50,000, and companies must owe less than $25,000 in payroll taxes. Both individuals and businesses may qualify if they owe less than $100,000 and can pay it in 120 days or less.

Applying for an Installment Agreement

You can apply online or by phone. Individual taxpayers need to provide:

• Your full legal name and spouse’s name (if married)
• Social security number or Individual Tax ID Number
• A valid email address
• Mailing address on your most recent tax return
• Recent filing status

For business applications, you’ll need:

• Employer Identification Number (EIN)
• Date of EIN assignment
• Mailing address on your most recent tax return
• Caller ID number on your tax delinquency notice

IRS Payment Plan Challenges

The IRS may propose higher payments than expected, aiming to avoid an installment agreement altogether. Negotiation is crucial, and our experienced Tax Resolution Experts can help you navigate this process.

Representation by Tax Resolution Experts

Our Tax Resolution Experts, many of whom are former IRS agents, know the system inside out. We’ll work with you to propose realistic payment plans and negotiate with the IRS on your behalf.

Contact Us for Assistance

Don’t face the IRS alone. Contact our office today for a free and confidential consultation to explore installment agreements and other options for settling your tax debt.