IRS Payment Plan – Pay Back Taxes – Former IRS Agents – Orlando, Tampa, St. Petersburg, Jacksonville – Florida
Michael D. Sullivan is a Former IRS Agent and Teaching Instructor with the Internal Revenue Service. Call today for a no cost consultation 1-866-700-1040.
We are affordable and friendly. We get the job done, since 1982.
Installment agreements or payment agreements are much easier to come by since IRS has changed many of there tax policies concerning collection policies. These changes were long overdue. There are a variety of options available to the taxpayer but a lot depends on the amount owed, the type of tax and whether or not the taxpayer is current.
Depending on each situation, we place the individual or business into the Program that best fits the needs of the taxpayers. We have worked well over 15,000 cases and can find the program to get the taxpayer instant relief.
The new Fresh Start Program has made making a payment agreements a lot less stress free and allows taxpayers some freedoms as oppose to the strict regimen of days gone by.
To get the agreement you want it is always best to speak directly to a professional tax firm to get the desired results. You can speak to us about different options. 1-866-700-1040.
To qualify for a IRS Payment Plan to pay back taxes:
To qualify for an installment agreement, the taxpayer must be currently compliant.
This means that
(1) all required tax returns have been filed and
(2) the taxpayer is up-to-date with current-year tax obligations. Once an agreement is established, the IRS requires the taxpayer to stay in compliance to avoid “pyramiding” additional taxes onto those that are already owed.
For this reason, sometimes it is best to increase payroll tax withholding or remain current with estimated taxes to avoid a default on the installment agreement.
To Apply for an installment agreement you can call us today at 1-866-700-1040.
Online options:
There are also online options if you owe $50,000 or less in combined individual income tax, penalties and interest;
Owe more than $50,000
If you owe more than $50,000, you will also need to complete Form 433-F, Collection Information Statement. The 433F is a detailed financial statement that IRS will review containing all your income and expenses over the past 6 months. IRS will ask for documents to verify all income and expenses.IRS will apply the National Standard to all expenses so caution should be given to anyone trying to attempt this on there own. It is nut suggested. If you over $50,000 you should have a tax professional remedy this situation for you.
Should you default your IRS payment plan on your back taxes IRS will enforce the filing of a federal tax lien or a federal tax levy. You must keep your account in good standing.
What is good Standing – To keep your account in good standing:
a. Pay at least your minimum monthly payment when it’s due (direct debit or payroll deductions make this easy);
b. Include your name, address, SSN, daytime phone number, tax year and return type on your payment;
c. File all required tax returns on time;
d. Pay all taxes you owe in full and on time (contact us to change your existing agreement if you cannot);
e. Continue to make all scheduled payments even if we apply your refund to your account balance; and
f. Ensure your statement is sent to the correct address, contact us if you move or complete and mail Form 8822, Change of Address (PDF).
If the taxpayer owes $10,000 or less, the IRS cannot turn down the request if the taxpayer meets the requirements for a guaranteed installment agreement. In addition to the $10,000 limit, the following rules apply to qualify for a guaranteed installment agreement (Form 9465 instructions):
During the past five years, the taxpayer (and spouse if filing jointly) has timely filed all income tax returns and paid all income taxes without entering into an installment agreement.
The taxpayer must agree to pay the full amount owed within three years and comply with all filing requirements and payment of tax while the agreement is in effect.
The IRS historically has allowed up to 60 months to pay the obligation in full. Under the Fresh Start program, it is now allowing up to 72 months to pay (IR-2011-20, IR-2012-31, and IR-2012-53).
