IRS Installment Agreements
The IRS will determine how much you can afford to pay based on your income and expenses, and will also determine the time frame for the plan depending on how much of your debt you can afford to pay off monthly. Depending on your situation, it may even be possible for the IRS to settle the total amount you owe for less, meaning less time making monthly tax payments.
Setting up a payment plan with the IRS means a stop to any collection phone calls, mailings, or visits from IRS revenue officers. If you make timely payments, you will not be in danger of receiving a levy or lien on your personal property. However, it is important to note that you will be paying interest on the balance of your tax debt, and the IRS will continue to assess penalties until your debt is paid in full.
To stay on your payment plan with the IRS, you must file your taxes in compliance with federal tax regulations in all future years.
If you are struggling with tax debt, and need to set up a payment plan with the IRS to pay off your debt, you need the experienced team at Top Tax Defenders on your side. Top Tax Defenders has 27 years of experience dealing with the IRS, and knows how to get you set up with an installment plan that you can afford.
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