Tax Installment Agreements – IRS
If you owe the IRS money, an installment agreement might be the right choice for you. With installment agreements, you get the opportunity to pay your taxes over time. These special payment plans are ideal for individuals and businesses who owe more than they can afford in a one-time payment. Installment agreements are designed to make your taxes more affordable and manageable. Before obtaining an installment agreement, make sure you check into all of your IRS debt relief options!
Do I qualify for an installment agreement for my taxes?
If you owe less than $25,000 in combined tax, penalties and interest, you should qualify for an installment agreement. If you owe more than $25,000, you may still qualify. You may fill out a form to find out if you qualify. Call the professionals at Tarnavsky Tax Firm and let us help you find out if you qualify for a payment plan on your taxes today!
Are there any fees associated with installment agreements?
Yes. The IRS will charge you a user fee for the set-up of your agreement. The set-up fee can vary depending on circumstances. If your income is low, ask about qualifying for a reduced user fee. Standard fees as of January 2007 are $105 or $52 for payments taken out of your checking account. If you’re in default from back taxes, fees can vary.
Can I change my agreement?
Yes. If your financial situation has changed, you may change your agreement. You can also save money by paying off the balance at one time. Also, a user fee will be charged on any changes in your agreement.
What if I already have an installment agreement but need to set up another?
If you already are apart of an installment agreement but need to make another, you may be able combine the two. If you combine agreements, you may be subject to another user fee.
What are my payment options?
When you set up an installment agreement with the IRS, they will recommend two options. They will either recommend your payments come directly out of your checking account or they will recommend to pay them directly out of your pay check.
Things To Consider
Although installment agreements can help make paying taxes affordable, you must consider interest charges and late payment fees. Also, paying your taxes in full can have many cost saving benefits including owing less money and even getting money back. Ask about the options at Tarnavsky Tax Firm. Our tax attorneys are here to help you with all of your tax matters. Call us today 877.275.5182.
Any State Installment Agreement Starts at Just $699
IRS Installment Agreements Start at Just $899
For more information on prices please contact us today!