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Applying Online for an IRS Payment Plan: The Basics of the OPA

You are eager to finally pay off your IRS balance and get in the clear. Unfortunately, determining a path forward can prove surprisingly tricky. As you assess your options, you may eventually find that the OPA is your best bet for setting up a realistic payment plan. However, this option is not ideal for every […]

Do’s And Don’ts When Setting Up Your IRS Payment Plan

If you’re behind on your taxes and struggling to pay up, a payment plan with the IRS may be your best option for avoiding stiff penalties. Unfortunately, setting up such a plan can prove surprisingly difficult. Below, we offer a few key do’s and don’ts to help you navigate the payment plan process: Do: Determine […]

The Top 3 IRS Payment Installment Agreements: A Quick Overview

If you’re unable to immediately pay your taxes but believe you could within the next few months, you may be a prime candidate for an IRS payment installment agreement. Read on to learn more about the various types of agreements — and to determine which is appropriate for your situation: Short-Term Payment Plan Looking to […]

What Happens If You Fall Behind On Your IRS Installment Payments?

You failed to pay your taxes on time but were fortunate enough to score an installment agreement. Now, however, you’re also struggling to keep up with your payment plan. Unfortunately, the IRS might not be so forgiving this time. Below, we highlight a few of the best-case and worst-case scenarios you can expect to face […]

4 Mistakes Small Business Owners Make When They Owe the IRS

If you’ve just found out your small business owes substantial taxes to the Internal Revenue Service (IRS), it’s time to start planning for how to handle your tax liability immediately. Failing to do so could lead to even greater penalties and interest as well as the IRS putting a lien on your assets, seizing cash […]

What Happens If You Miss a Payment on Your IRS Payment Plan?

So you negotiated a payment plan with the IRS, and the agency is leaving you alone. Collection calls and demand letters have ceased, but you recently missed a payment deadline. What can you expect if you miss a payment on your IRS payment plan? Here’s the simple answer: Communication is Your Friend Contact the IRS […]

On an Installment Plan to Pay the IRS? Here’s 5 Things You Need to Know

You negotiated an installment plan with the IRS, and they have been leaving you alone. As long as you continue to make that payment, IRS calls and letters are on hold, and everything is okay. To keep things running smoothly throughout the length of your installment plan, here are five things to keep in mind: […]

What is an IRS Installment Agreement? How Much Do You Have to Pay Per Month? What If You Can’t Pay?

You have filled out your taxes and filed your IRS forms. There’s only one minor catch – you can’t afford to pay. The government might agree to an IRS installment plan so that you will not be subject to further collection actions. The minimum amount of monthly payments varies, depending on how much you owe. […]