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IRS Installment
Agreements
If
you are unable to pay your income taxes and
unable to borrow money to pay these income
taxes, an installment agreement can be one
way, but not necessarily the best way to
solve your problem.
You
do not necessarily have a right to an
installment agreement, however they are
available to most taxpayers.
Before
you can qualify for an installment
agreement, IRS will require the following
conditions:
-
You
have filed all income tax returns
-
You
have filed all employment tax returns
-
You
have paid all current payroll taxes
-
Financial
Statement filed for amounts over 20K
The
IRS will grant an Installment Agreement to
pay over a maximum of 5 years, although in
some cases they will accept or ask for
payments anyway even without a formal
installment agreement. One item to note is
that if your liability includes a tax year
nearing the end of the statute of
limitations for collection, IRS will require
that you sign a Form 900 to extend the
statute of limitations during the
installment period.
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In Compromise
IRS Liens, Levies, Wage Garnishments,
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(281) 332-5222
Email: solutions@irsnegotiators.com
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