IRS Installment Agreements

IRS Installment Agreements Services in California

The IRS allows taxpayers a number of ways to arrange payment of their back tax liabilities. Our goal is to help you set up a plan that not only is compliant with the IRS but is an option that works for your specific needs and budget. We want to help our clients to pay the minimal amount in the fastest time possible to minimize accumulated interest.

When Does an Installment Agreement Make Sense?

1) The taxpayer is unable to pay their tax liability all at once

2) Your Offer In Compromise was rejected by the IRS

3) You have no other lower interest means to cover your tax liability

The best way to get the most beneficial Installment Agreement is to have a licensed tax professional (Enrolled Agent, Tax Attorney, CPA) submit your filings and negotiate with the IRS for you.

Different Types of Installment Agreements

Guaranteed Installment Agreements

These are the easiest Installment Agreements to qualify for. if you meet the requirements, you are accepted.
If you owe $10,000 or less and can pay the balance plus interest and penalties within 3 years or by the Collection Statute Expiration Date (CSED) you qualify. Businesses do not qualify for these installment plans.

Streamlined Installment Agreements (SIA)

For individuals who owe less than $100,000 in tax debt
Agreement Term - Up to 84 months to pay.

For businesses that owe less than $25,000 in tax debt
Agreement Term - Up to 36 months for income tax debts.

One benefit of the Streamlined Installment Agreement is that they require no financial disclosure.

Financially Verified Installment Agreement

If the individual taxpayer does not qualify for a Streamlined Installment Agreement they would have to submit full financial disclosure of income, debts, expenses and assets for Installment Agreement consideration. It is highly suggested that a taxpayer secure professional tax assistance in such cases.

Partial Payment Installment Agreement (PPIA)

A PPIA is when the IRS agrees to intial smaller monthly payments than a normal installment agreement, usually for 1 year and then the agreed amount increases in order to fulfill the total tax liability. This could be an option if an initial Offer in Compromise was rejected. The IRS will review your financial status every two years.

Let us help you with Tax IRS Installment Agreements

We are eager to help taxpayers across the country get fair resolution to their tax problems. If you would like further information on how we can become part of your tax negotiation team please call Millennia Tax Relief today to talk with one of our IRS Installment Agreements Team.

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IRS Installment Agreements