What is an IRS Payment Plan?
An IRS installment payment plan allows taxpayers to satisfy their tax debt through monthly installment payments. The total amount of your plan is determined by the amount you owe and how long the IRS will wait to collect the debt. It can be an option for those who don’t qualify for an Offer in Compromise. If you can’t afford to pay your tax debt in a lump sum, the IRS offers a partial payment installment agreement (“PPIA”) depending on your ability to pay and IRS financial standards.
To properly create an IRS payment plan, you need the best IRS tax attorney who will thoroughly evaluate your tax debt and calculate the lowest monthly amount that the IRS will accept from you. Delia Law is a top trusted Southern California tax law firm that has many years of experience in IRS debt resolutions all across the country. If you’re looking for a knowledgeable professional to create a personalized IRS installment payment plan, consult our experienced attorneys now.
Do You Qualify?
If you owe the IRS $100,000 or less, you may qualify for an IRS tax payment plan. Under the current IRS Fresh Start Program, you may qualify to pay your tax debt with 72 or 84 monthly installments. However, you must be up-to-date on the current year’s tax obligations.
These installment plans also have certain drawbacks. First, penalties and interest continue to accrue until you pay your debt in full. Combining tax debt with IRS penalties can result in interest rates as high as 8% or 10% per year. Also, if your living expenses require all of your cash, the IRS will not negotiate a payment plan with you. In that situation, the hardworking attorneys at Delia Law can help you request an offer in compromise.
Don’t Try To Negotiate an IRS Installment Payment Plan Alone
At Delia Law, we know that large tax debt can create many problems. We personally meet with potential clients and truly care about the different challenges they are facing. Through education and compassion, we ensure you fully understand your tax relief options and how to resolve your tax debt. We help you:
- Complete a Collection Information Statement
- Create a payment plan you can manage
- Propose a monthly amount you can afford
- Understand every step and every requirement you’ll face
- Decide the best way to make payments once your plan is approved
Don’t Put It Off Any Longer
If you’re wondering whether you can qualify for an IRS tax payment plan, don’t hesitate to contact our knowledgeable and compassionate tax relief attorneys at Delia Law. Your IRS installment payment plan must be submitted accurately by an experienced tax attorney or your plan could be rejected by the IRS.
Complete the form below to contact Delia Law for a no-cost tax attorney consultation. You can also call us directly at our San Diego Office at (619) 639-3336, our Los Angeles office at (310) 494-0100 or our New York office at (646) 862-2854.
Take the first step toward resolving your looming tax concerns. Contact us today for a free consultation.