Installment Agreements
Paying your taxes on time avoids unnecessary penalties and interest. However, when you cannot pay your taxes in full when they are due, you have the right to request an Installment Agreement. An Installment Agreement is a payment arrangement with the Internal Revenue Service or your state tax agency that allows you, the taxpayer to pay your tax liabilities over a specific amount of time. Enforced collection of the liability will cease during the timeframe of the Installment Agreement unless a taxpayer defaults the terms of the agreement.
Generally, an Installment Agreement is defaulted by the government for: missed or late monthly payments, filing additional tax returns with balances due, not remaining up to date with federal tax deposits or estimated tax deposits, or for accruing additional tax liabilities during the time of your Installment Agreement. At Tax Advocacy, LLC, we will work closely with you to monitor that proper payments are made timely and applied appropriately by the Internal Revenue Service.
In some instances the Internal Revenue Service is required by law to grant you an Installment Agreement. We are well versed in this requirement. We can prepare and submit all of the necessary financial statements, supporting documentation, prepare non-filed tax returns and negotiate on your behalf with the taxing authorities.
We will work diligently to get you an agreement that fits your budget, not the governments'.
Call us for a free, one-half hour confidential consultation.
