Installment Agreements

The IRS and states vary widely in how long they will allow for the payback period and what actions or inactions can result in an rejection of an installment agreement request, or the default of an existing agreement. Please contact Larson Financial to get answers specific to your situation.

Installment agreements allow taxpayers to pay tax debts to the IRS or state taxing authorities over a scheduled period. Although there are several factors necessary for the acceptance of an installment agreement, it must identify what the taxpayer can afford on a monthly basis and demonstrate that the liability will be paid off in a timely fashion. This requires different types and amounts of documentation, depending upon the amount owed and to whom. For example, the IRS will set up installment agreements over the phone and with no financial forms if the amount owed is under $10,000.

To resolve your tax problems, please contact Larson Financial today.

The information provided on this website is for general guidance and to offer the user general information on particular subjects of interest. It is not intended to constitute legal, accounting, tax or other professional advice or services. To the extent that this site concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.
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