In an installment agreement, the IRS allows taxpayers to meet their penalty, interest or tax obligations over an established amount of time by making fixed monthly payments. After an installment agreement has been finalized, the IRS must stop collection activities, including levies and property seizures. In exchange, the taxpayer must continue to make their monthly payments and return filings. If the taxpayer does not keep up with their obligations, the IRS can reinstate their enforced collection activities.
If you are interested in an installment agreement, fill out our free case review form on the right. Our qualified tax attorneys provide a free case review to all potential clients and are dedicated to protecting the rights of taxpayers.
Coming to an agreement on a fair monthly installment is often very challenging and requires the knowledge of tax law and IRS regulations. The minimum monthly payment allowed by the IRS will depend on local and national standards for allowable expenses. Typically, the IRS representative will use these standards to evaluate an installment offer and projected payment amount.
If you are interested in forming an installment agreement or you are required to make full or periodic payments which you cannot afford, fill out our free legal consultation form today. Our tax attorneys will review your claim to determine whether we can help you come to an agreement on an affordable monthly payment.