IRS Installment Agreements

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Peter Stephan and the Tax Resolution Institute can obtain for you the lowest Installment Agreement with the IRS. We have the experience and the expertise. We have a 25-year history of reliable tax resolution service, and have earned the respect and trust of the Revenue Officers of the Internal Revenue Service. We will review your monthly income and living expenses, and let you know what the IRS current position is on your “Allowable Expenses”. As you can expect, the IRS definition of your living expenses and our understanding of what you need to maintain your living conditions will be significantly different. With your approval, we will negotiate with the IRS to obtain an Installment Agreement that will be right for you.

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What is an Installment Agreement? An Installment Agreement is a workable payment plan between you and the IRS. The IRS encourages you to pay the tax debt you owe as quickly as possible. When an individual or a business is not able to resolve a tax debt immediately, an Installment Agreement becomes a reasonable payment option. Installment agreements allow for the full payment of the tax debt in smaller amounts over time.

To be eligible for an installment agreement with the IRS, all tax returns that are due must first be filed. If you cannot afford to fully pay your back tax debt, an Installment Agreement offers the option to pay your back taxes through monthly payments. There are guidelines regarding how the IRS determines the payment amount and time frame for the agreement. Peter Stephan and the Tax Resolution Institute can work with the IRS to create an Installment Agreement that fits your individual situation so your tax debt realistically can be resolved. Although the IRS wants to collect the entire amount of the back taxes owed as quickly as possible, you need a payment plan that is affordable and makes sense for your financial situation.

If the Installment Agreement makes it impossible for you to pay your bills and maintain your family in the proper manner, what is the point of making such an agreement? Flexible in regards to the payment amount, the IRS wants to ensure that the amount decided upon in an Installment Agreement can be paid off before the statute of limitations expires. By law, the IRS has the authority to collect outstanding federal taxes for ten years from the date of assessment. Often, the amount due on your tax debt can be greatly reduced to meet this requirement. This is called a PPT-Partial pay installment agreement.

We have experience in developing a payment schedule for an Installment Agreement that works for both you and the IRS. Above all, we focus on avoiding an Installment Agreement with the IRS that will cause you further financial hardship. The IRS does charge a nominal fee to set-up an Installment Agreement. In addition, you must stay current when it comes to filing and paying your future tax returns during the course of the Installment Agreement.

If your personal income tax debt is large or if you are have a payroll tax debt, the IRS will often appoint a Revenue Officer to the case. Like a debt collector, the Revenue Officer will determine how much of the tax debt can be repaid before the expiration of the statute of limitations. Since we have experience and history working with the local IRS Revenue Officers in Southern California, we can help smooth the way to obtain an agreeable amount owed and a workable payment schedule.

Our goal is to get you the lowest total amount possible and a payment schedule that allows you to maintain your current living conditions. Since the government will not agree to an installment agreement until all your past and present tax returns are filed, we can help to bring you into compliance before arranging your payment plan. Although penalties and interest will continue to be charged during the course of an Installment Agreement, they could be greatly reduced and worked into the bigger picture. When we offer an Installment Agreement for you to the IRS, you will know how to plan your finances in the future under such a program.

Once an Installment Agreement has been accepted, the IRS suspends all collection efforts. Although your tax debt still needs to be paid off, there is no further threat of wage garnishments, bank levies, or asset seizures. Depending on your situation, however, the IRS may file a Notice of Federal Tax Lien to protect their financial interest in you until the liability is paid in full. If you default on your agreement by missing a payment, or if you fail to pay the amount owed on a future tax return, your agreement will go into default. Once again, the IRS will start to enforce collection actions against you and your assets.

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We can’t help until you contact us. Click here to fill out our simple
Tax Resolution form

Without question, a negotiated payment plan in the form of an Installment Agreement is much more favorable than a Wage Garnishment, Bank Levy, or Asset Seizure. If you cannot afford to pay your back taxes immediately and you do not qualify for either an Offer in Compromise or the Currently Not Collectible status, an Installment Agreement can be the best way to resolve your tax debt.

Let us be perfectly clear: the better the Installment Agreement we are able to arrange for you, the better it is for us. If the IRS is demanding that you pay the full amount owed on your tax debt or is offering an Installment Agreement that you cannot possibly afford to pay, we can help you. With our trusted experience and expertise, Peter Stephan and the Tax Resolution Institute can negotiate an Installment Agreement that will work for you. Our goal is to deliver an Installment Agreement with the IRS that will allow you to maintain the financial freedom. Our focus is to resolve your tax problems so you can have the security you need to move forward with your life.

To see if an installment agreement is the best way to resolve your tax debt, feel free to call us for a free consultation. If you are looking for a trusted representative with experience and expertise to negotiate on your behalf with the IRS, Peter Stephan and the Tax Resolution Institute will represent you today. Contact us today for information about Installment Agreements, and you will receive quality representation that can help to ensure a secure and viable financial future for you.