Tag Archives: IRS Installment Agreement

Determining Your IRS Installment Agreement Amount When the Future Is Uncertain

Determining the right amount for IRS installments is never easy, but this takes on a whole new level of confusion when you lack confidence in your financial future. If, for example, you anticipate layoffs at your place of employment, you won’t be in a position to take on an ambitious payment plan. Still, it’s important […]

Can You Renegotiate Your IRS Installment Agreement? Should You?

You’ve faithfully paid your IRS installments for months or even years. Circumstances change, however, and the arrangements that previously worked may no longer be ideal. Now, you face a difficult decision: renegotiate your installment plan or stick with the status quo? Using the IRS Online Payment Agreement Tool In some cases, it’s easiest to make […]

Life After Setting Up an IRS Installment Agreement: How to Get Off the Treadmill and Back to Zero with the IRS

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: […]

What Are the Ways You Can Set Up an IRS Installment Agreement?

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 […]

Can You Negotiate Another IRS Installment Agreement If You Owe Taxes From a Previous Year?

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 […]

Did You Miss an IRS Installment Agreement Payment? Here’s Your Checklist of What to Do Next

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 […]

What Happens When You Miss an IRS Installment Payment?

The financial issues that made it impossible for you to file or pay your taxes on time have not gone away — and now, you’re struggling to make your monthly IRS installment payments. Keep these next steps in mind as you determine how to proceed: Don’t Ignore the Problem Missing even one installment could cause your account […]

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. […]

7 Steps to Initiating an IRS Installment Agreement

Today we are writing about the IRS installment agreement process and how it can help you as it relates to your IRS tax liability.  First and foremost, there are various types of payment plans available to fit your needs. Secondly, depending on what you may owe the IRS, either for your business or you personally, […]