Need IRS Monthly Installment Plan + What You Need to Know + Former IRS

December 18, 2015
Written by: Jim Magary
Fresh Start Tax

 

We are AFFORDABLE former IRS agents and managers who know the system and can help you get an IRS monthly payment.

 

Over 6.5 million taxpayers enter into IRS  installment or monthly payment plans.

If you want to enter into a IRS  payment plan or installment plan with the Internal Revenue Service call us today and we will review with you your options.

You should know that we are former IRS agents and managers over 65 years of direct work experience in the local, district, and regional the IRS. We are specialized tax experts for IRS problems.

Before any determinations are made to enter into IRS monthly installment payment plans taxpayer should know all the facts.

We have worked thousands of cases throughout the years, since 1982.

We will review with you an installment payment program, and non-collectible status, or the offer in compromise.

There are three available options and every taxpayer should know the difference before making any signed agreement with IRS. certainly making payment plans or installment plans are one of the three available options.

 

There are some things you MUST to know.

 

Payment plans  or installment plans with the Internal Revenue Service can be very simple or they can be very complicated. a lot of factors come into play.

The dollar amount that you owe usually dictates what type of payment plan that you will enter into Internal Revenue Service. There are various forms of IRS payment plans.

Before you contemplate contacting the IRS regarding a payment plan, I would highly encourage you to contact a professional tax firm first.

If you will owe less than $10,000, there’s nothing wrong with you contacting IRS yourself and working out a tax resolution regarding a payment plan. If you will owe more than $10,000 in back tax debt it starts to get a little more complicated and making call to a tax professional could be in your best interest.

The more you owe, the more complicated the payment agreement gets.

Some IRS payment plans will require a financial statement on form 433F. You can find that directly on our website. These financial statements will need to be completely documented with bank statements, pay stubs, and proof of all monthly expenses.

IRS will stick to strict standards before they will make a payment plan and these are called the national and regional standards tests.

You need to be able to make sure you can make the monthly payment. if you fail to meet a monthly payment IRS has the option to levy your wages or your bank account. As soon as you failed to make your first payment IRS will send out CP notice 523.

Do not be forced or have your arm twisted in making a payment plan just to satisfy your obligation.

40% of all taxpayers who owe back taxes are placed into a non-collectible file or hardship file. This is only temporary relief because even though your case is put into a freeze program. penalties and interest continue to run and IRS will re-visit your case in 2 to 3 years.

Many taxpayers however cannot pay their back taxes at this time because they are being stretched and the hardship program is perfectly suited for them.

It is best to have a short-term goal and a long-term plan to remedy your problem with the Internal Revenue Service.

Still other taxpayers who make a payment plan may be eligible to settle their debt through the offer in compromise program with the Internal Revenue Service. The offer in compromise programs allow taxpayers to settle their debt for pennies on the dollar.

I urge any taxpayer who contemplates the filing of an offer in compromise to settle there back tax debt for pennies on the dollar walk through the IRS pre-qualifier tool to make sure they are right qualified candidate for the program before spending any money.

If you have any questions call us today and we will walk you through the different programming available with the Internal Revenue Service.

We are a full-service firm that has been practicing since 1982 and are A+ rated by the Better Business Bureau.

It important note is that all tax returns must be filed with the Internal Revenue Service if you are contemplating entered into a monthly installment payment because every time IRS works in case they will want to make sure you are in compliance with all the federal filing rules.

We can prepare all back tax returns with or without records.

How can you make monthly payments the IRS?

Call us today and learn more about all IRS monthly payment programming available. Remember it is wise to check if you can settle your tax debt for pennies on the dollar through the offer in compromise program.

 

 

Need IRS Monthly Installment Plan + What You Need to Know + Former IRS

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