IRS Payment Plan When your tax debt is more than you can pay at once, setting up a payment plan with the IRS is the most common way to resolve it. The IRS offers several established payment plans with different criteria on how to qualify for them. But even if you don’t meet the qualifications, […]
We hope you’re doing well and staying safe during the quarantine measures we’ve been asked to implement. Remember, getting plenty of fresh air, sun, good food, and sleep are crucial to staying healthy. Oh, don’t forget to brush your teeth, floss, and use mouthwash (you’re welcome dentists!). Keeping a clean and healthy mouth is always […]
You held only the best intentions when you sought an installment plan with the IRS. Unfortunately, you have since discovered that your installments are too high for you to realistically handle. This is a terrifying discovery — fail to pay up, and you could be in for big trouble with the IRS. Thankfully, options are […]
It’s time to breathe a sigh of relief — you have successfully set up an installment payment and are on the path to getting back in the good graces of the IRS. Unfortunately, you’re not quite out of the danger zone. Keep the following suggestions in mind as you strive to complete your installment plan: […]
If you’ve fallen behind on your taxes, an installment agreement may be your best bet for staying out of trouble with the IRS. Setting up this agreement can prove surprisingly difficult, however. In addition to completing piles of paperwork, you’ll need to offer substantial documentation underscoring your current financial situation. Even so, this approach remains […]
The unfortunate reality of tax debt is that it’s rarely resolved in one fell swoop. Even those fortunate enough to secure favorable installment plans may suffer additional tax debt in the future. After all, the financial issues that lead to those initial tax problems are unlikely to disappear immediately. Your failure to adjust your installment […]
An IRS installment agreement can provide much-needed relief from the burden of tax debt. That relief hinges, however, on your ability to make installment payments on time. Life happens, and sometimes, even the most responsible taxpayers miss payments. The consequences can be harsh, with your account potentially going into default if you fail to take […]
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 […]
You went to great lengths to score an IRS payment plan. While it’s only natural to experience a rush of relief, it’s dangerous to get too comfortable. Mess this up and you could face a series of truly harsh consequences. It’s time to get your finances in order — here’s how to get started: Set […]
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 […]