You are just about to file your income tax returns. However, you discovered that you might not be able to pay the taxes due. Reason A: you owed more than you can pay. Reason B: You just completed your return. Fortunately, the IRS allows taxpayers to negotiate repayment terms on what you owe them. At Tax Defense Partners, we specialize in tax debt relief solutions such as installment agreement. We can help you settle your back-tax bill for a payment that you can afford.
An installment agreement is an arrangement granted by the IRS. It indicates that the taxpayer can pay his or her outstanding taxes in equal monthly installments over an extended period of time. Do note that interest is applied to the balance owed.
Next, the IRS automatically agrees to an installment plan if the individual owes $10,000 or less, as of 2017. In addition, you must meet all the following criteria:
The IRS is careful about accepting these proposals. They require documented and reasonable proof before approving your case. Your ability to pay and financial circumstances will be assessed. If you did not meet the initial criteria that were mentioned above, you will need to make a well-supported case that:
Our tax debt resolution experts understand the economic parameters utilized by the IRS to measure the validity of your case. Our dedicated team can help you develop and present the evidence that will prove your case, on your behalf. We make sure that everything is done right from the get-go. This way, you end up being in the 25% that the IRS’s accepted cases. Even with installment agreements in place, Tax Defense Partners has consistently lowered our clients’ monthly repayments through statute of limitations on tax liability, penalty abatement, filing delinquent tax returns, and more.
If you would like us to negotiate an installment agreement with the IRS and put a stop to collections, do not hesitate to schedule a free confidential consultation with us today!