Tag Archives: IRS installments

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 […]

How Much Should Your IRS Monthly Payments Total?

Tax debt can be incredibly stressful, but it’s possible to dig yourself out of this financial nightmare without draining your life savings all at once. For many taxpayers, monthly payments represent the most realistic solution. Determining your payment level can be tricky, however — especially if you’re already struggling to make ends meet. Keep the […]

What If You Weren’t Prepared to Owe the IRS Money This Year — And Now You Do?

This is not shaping up to be an easy year for American taxpayers. According to a recent IRS report, refunds are down nearly 17 percent. This has come as a shock to many taxpayers, some of whom expected hundreds, even thousands of dollars more than they’ve actually received. Still others must pay in this year. […]