If you are similar to millions of taxpayers and are not able to pay your tax debt in full, the IRS offers the ability to pay in monthly payments. The taxpayer is subject to the IRS’s determination of their financial situation and sets the amount the taxpayer must pay each month. However, installment agreements also come with interest and penalties as well, which increases the total amount you owe. In addition, depending on the type of agreement you choose, the installment plan may be subject to certain conditions such as applying a tax lien on your property or imposing a higher amount that you have to pay each month. There are many types of Installment Agreements that you may qualify and apply for, including but not limited to:
- Streamlined Installment Agreement Plan
- Fresh Start: Direct Deposit Installment Agreement Plan
- Guaranteed Installment Agreement
- Partial Pay Installment Agreement
- Ability to Pay Installment Agreement
Unfortunately, repaying your tax debt is never a simple and easy matter. Determining which Installment Agreement works best for your situation is complex. With Justice Tax, LLC, we have decades of experience and licensed tax professionals with the knowledge of the ins and outs of the tax resolution system. We have helped millions of taxpayers get the resolution they need for their tax situation. Give us a call at 888-545-6007 for a no cost, no obligation consultation to discuss your options in regard to your specific tax situation.