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 well worth the effort. Below, we detail several excellent options available for setting up an IRS installment agreement.
Online
In an effort to improve accessibility, the IRS has made installment plan applications available online. To sign up, you’ll need to create an account with the IRS, which has recently revamped its identity verification process to improve digital security.
Over the Phone
If you don’t feel comfortable with the online application process, you’re welcome to contact the IRS over the phone instead. Feel free to call 800-829-1040 to discuss individual installment plans or 800-829-4933 to learn more about business plans.
Face-to-Face
If you prefer a more personal touch, a visit to your local Taxpayer Assistance Center may be warranted. In-person visits are available for installment plan purposes, but you’ll want to make an appointment well in advance to ensure a productive visit.
Working With an Enrolled Agent
If you’re nervous about the prospect of applying for an installment plan, you could benefit from the assistance of an enrolled agent. Your agent can advocate on your behalf to ensure that you secure a plan that fits your unique circumstances. This is an excellent option for complicated tax situations that cannot easily be resolved on your own. You’ll appreciate the patient guidance and assertive advocacy your enrolled agent provides.
Still not sure how you should proceed with setting up an IRS installment agreement? Feel free to discuss your options with the Highland Tax Group. We’re happy to help you reach the best possible tax solution. Please call us at 720-398-6088!