Payroll Tax – Owe the IRS – IRS Payment Agreements,Settlements,Former IRS 1-866-700-1040
If you owe the IRS back payroll taxes and wish to get an IRS payment or installment agreement contact us today to find out the very best tax solution for your business or company.
If you qualify for an IRS tax settlement called offer in compromise we will go over all the administrative proceedings that will allow you to get a tax debt settlement.
There are different payment options available to you and they are all determined by one thing the amount of tax you owe the IRS. All of the IRS tax options are predicated on your ability to pay Internal Revenue Service back and how long you need to pay the back payroll taxes to the IRS.
We are comprised of tax attorneys, certified public accountants, enrolled agents, and former IRS agents, managers, and tax instructors.
We have over 206 years in the IRS industry and have over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
We are A+ rated by the Better Business Bureau have been in practice since 1982.
Need a IRS Payment Agreement – In Business Trust Fund Express Installment Agreements
Small businesses who currently have employees can qualify for an In-Business Trust Fund Express Installment Agreement.
These installment agreements generally do not require a financial statement or financial verification as part of the application process.
The criteria to qualify for an IBTF-Express IA are:
a. You owe $25,000 or less at the time the agreement is established,
b. If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify,
c. The debt must be full paid within 24-months or prior to the Collection Statute Expiration Date whichever is earlier.
d. You must enroll in a Direct Debit installment agreement (DDIA) if the amount you owe is between $10,000 and $25,000.
e. You must be compliant with all filing and payment requirements.
Do you owe Individual taxes to the IRS – Streamlined Installment Agreements
The Fresh Start provisions also mean that more taxpayers will have the ability to use streamlined installment agreements to catch up on back taxes.
Under the Fresh Start initiative, the maximum dollar criteria for streamlined installment agreements has been raised from $25,000 to $50,000 and the maximum term has been raised from 60 months to 72 months.
These installment agreements generally do not require a financial statement, but a limited amount of financial information may be required in the application process.
The Streamlined Installment Agreement criteria is divided into two categories:
a. balance due of $25,000 or less, and balance due $25,001 to $50,000.
$25,000 of less in back taxes
- The criteria to qualify for streamlined installment agreements with a balance due of $25,00 or less are:
- You owe $25,000 or less, at the time the agreement is established.
- If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.
- The debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
- You must be compliant with all filing and payment requirements.
- Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
- Defunct businesses, including any type of entity and any type tax (Form 940, 941, 943, etc.).
- Operating businesses are limited to income tax liabilities only (Form 1120).
IRS Tax Balance due of over $25,000 to $50,000
The criteria to qualify for streamlined/payment installment agreements with a balance due of $25,001 to $50,000 are:
- You owe $25,001 to $50,000, at the time the agreement is established. If you owe more than $50,000, you may pay down the liability before entering into the agreement in order to qualify.
- The debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
- You must be compliant with all filing and payment requirements.
- Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
- Businesses are limited to defunct sole proprietors who owe any type of tax (Form 940, 941, 943, etc.).
- You must enroll in a Direct Debit Installment Agreement.
- A limited amount of financial information may be required during the application process.
- Taxpayers seeking installment agreements exceeding $50,000 will still need to supply the IRS with a Collection Information Statement (Form 433-A (PDF) or Form 433-F (PDF)).
The IRS Settlements
The IRS tax debt settlement program is a much more complicated process.
Any taxpayer wishing to find out whether they are qualified candidate should fill out the pre-qualifier tool on our website or you can contact us directly.
If you would like to speak to us today call us for free initial tax consultation on payroll tax, owing the IRS, payment agreements or tax settlements you can speak directly to tax attorneys, certified public accountants, for former IRS agents, managers, or IRS instructors.
