Installment agreements are agreements between the IRS and the taxpayer to pay down an existing debt in smaller, more manageable amounts, over time. The agreement keeps the IRS from levying as long as the payments are being made in full and on time. Without an agreement, the IRS may take all but a small amount of your paycheck. They could also levy bank accounts and file tax liens on all of your assets including your home. Taxpayers must be in compliance with certain tax obligations (filing, federal tax deposits, withholding, etc.) before installment agreements can be established. It is important to note that penalties and interest continue to accrue throughout the life of the agreement.
We will assist you in meeting the criteria necessary to qualify for installment agreements. Taking into consideration your monthly income and living expenses, we will advocate on your behalf and negotiate a monthly payment amount that is fair and affordable for you. Prior to setting up a payment plan, your IRS tax transcripts will reviewed in detail to identify any penalties and interest that can be removed. If so, we will prepare and submit a request to abatement all penalties and related interest. Once your IRS payment plan is set up, we will explain how to keep the agreement from defaulting and what actions to take to prevent IRS enforcement action in the event of a default. As former IRS Auditors and IRS Officers, we know how the IRS works and how to protect you and your assets. Request a FREE consultation with our ex-IRS agents.
For immediate assistance with installment agreements, or another tax matter, contact us today at 1-949-260-4770 for a FREE and CONFIDENTIAL consultation.
We look forward to serving you.