IRS Installment Agreements are changing! Get the details.

IRS Installment agreements are changing The IRS has introduced new changes to their Installment Agreement programs. These changes affect the schedule of fees for these services. The changes described in this article took effect on January 1, 2017.  The new regulations apply to all new installment agreements as well as any installment agreement that need to be revisited.  If you reinitiate or reinstate an existing installment agreement, the new fees will apply! In addition to the increase in fees, two new online installment agreements are being added, each with its own set of fees. One important point to [...]

Can’t Afford to Pay your Taxes? IRS Testing Expanded Criteria for Streamlined Installment Agreements

by Matthew Cohen The IRS offers several options to taxpayers who filed their tax returns but can't afford to full-pay the amount they owe by the due date. For example, if a taxpayer is unable to pay the full amount owed over the 10-year statute of limitations on collection, they may claim hardship and end up paying a lower amount. On the other hand, if a taxpayer can full-pay their liability within the time allowed by the IRS which is currently 6 years (72 months), they may enter into a streamlined installment agreement assuming they meet certain requirements.  One such [...]

IRS Installment Agreements

Peter Y. Stephan, Director of the Tax Resolution Institute speaks on IRS Installment Agreements: I'm here today to talk to you about IRS Installment Agreements. In order to solve your IRS tax collection issue, there are all kinds of ways. One is to pay over a period of time. Why is that important? Why not settle for less with an Offer in Compromise? Well, the reason is simple. Most people who owe taxes don't qualify for an Offer in Compromise for one reason or another. The best option is to negotiate a Partial Pay installment agreement or a currently [...]

The Consequences of Having Unfiled Income Tax Returns (Part 1)

Are you aware that there are significant consequences for business and individual that do not file income tax returns? The April deadline is right around the corner. Although you may extend the time to file a return, estimated tax owing is expected to be paid by April.   The Internal Revenue Service expects your tax return to be filed and any income tax debts to be paid.  You need to understand that burying your head in the sand and hoping your unfiled income tax returns and IRS delinquent income tax bill problems will go away is unrealistic. […]

Did You Know The IRS Can Revoke Your Passport If You Fall Behind On Your Income Taxes?

Since the Internal Revenue Service now can revoke your passport, you may not want to book that European vacation if you have failed to pay your back income tax debts. In the winter of 2015, a Congress issued a "cold front" by potentially freezing the ability of a substantial portion of American citizens to travel abroad when they passed the Fixing America’s Surface Transportation Act. The act is designed to address our nation’s crumbling infrastructure by raising money from taxpayers; however, revoking passports does not seem like an equitable solution let alone anti-American. The IRS Can Revoke Your Passport [...]

IRS Partial Pay Installment Agreement Success By The Tax Resolution Institute

The Tax Resolution Institute is always proud when we are able to help a client. In the past week, we negotiated a Partial Pay Installment Agreement for a client that proved truly successful. An Installment Agreement is an Internal Revenue Service (IRS) program that allows individuals to pay tax debt in monthly payments. The total amount paid can be the full amount of what is owed, or it can be a partial amount. The goal of a Partial Pay Installment Agreement is to reduce a tax debt by having the statute of limitations run out before the entire tax debt is covered by [...]

3 Reasons Why Hiring The Right Tax Resolution Specialist Makes Sense If You Have Not Filed Your Tax Returns

Hiring a tax resolution specialist makes more and more sense when you see the unopened envelopes from the IRS or your State taxing agency sitting on your desk. Many taxpayers hope if they just ignore the problem that it will go away. As the respected bastion of many a tax resolution specialist, the Tax Resolution Institute wants to guarantee you that your unfiled tax returns and delinquent income tax debts will not just go away. Tax Resolution Specialist Helps You Get Up To Date Tax Resolution Specialist Help In order to access an Installment Agreement or other tax [...]

Three Tax Tips For Small Business Owners To Help Avoid Employment Tax Problems

Why are so many small business owners suffering from employment tax problems and payroll tax issues? The Tax Resolution Institute want to help by providing three tax tips to help small business owners with business tax questions and employment tax problems. After all, the Tax Resolution Institute has a long history of helping business owners with payroll tax issues and trust fund recovery difficulties find the tax relief they so desperately need. Employment Tax Problems Avoided Facing Employment Tax Problems Although these three tax tips are not the answer if you have serious payroll tax issues, they will [...]

Are You Scared Of The IRS Coming After You Because Of Your Income Tax Debt?

Income tax debt can be like a ghost haunting you in the dark of night. Questions float in and out of your consciousness as you worry whether or not the IRS will come after you because of your income tax debt. The Tax Resolution Institute understands your fears, and we actually want to help you find the income tax debt relief your desire. Haunted By Income Tax Debt Haunted by Income Tax Debt Do worries about your income tax debt keep you up late at night, making you feel like the ghost of Jacob Marley in Scrooge? If [...]

Tax Resolution Question – Is An IRS Offer in Compromise Or An IRS Installment Agreement The Best Option?

IRS Offer in Compromise or IRS Installment Agreement? How Should I Resolve My IRS Tax Debt? Tax Resolution Question: I owe a significant tax debt to the IRS, but I don’t know whether an IRS Offer in Compromise or an IRS Installment Agreement is the best option for me. It all seems a bit overwhelming. How can I decide what makes the most sense for me? It all seems so confusing.  Tax Resolution Answer: First, take a deep breath because there is a solution out there that will work for you. Although it is impossible to provide a [...]