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Coast to Coast - IRS Help - Tax Debt Relief

San Diego, CA  - New Port Richey, FL ​

866-747-7435 / 866-929-7010 fax

Flat Fee Tax Relief 
Coast to Coast

IRS Help - Tax Debt Relief

1-866-747-7435

daver@flatfeetaxrelief.net

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Disclaimer

IRS Installment Agreement -
IRS Repayment Plan -

IRS Payment Plan

An IRS repayment plan is often the easiest way to pay off any large debt, even an IRS tax liability but it isn't always your best tax relief option.

Do not equate having the"easiest to get" IRS repayment plan (installment agreement) with having the best IRS payment plan. A taxpayer may have far better tax relief options available than an IRS repayment plan.

Also, the IRS will charge exorbitant interest and penalties. To request an IRS payment plan, you more than likely need to submit IRS Form 9465. To add additional tax debt to an existing installment agreement you must contact the IRS directly.

​Guaranteed IRS Repayment Plan

The IRS will automatically agree to an installment plan if you owe $10,000 or less. You must also meet all of the following criteria:
a, A taxpayer has not filed late or paid late in the previous five years. This does not include extensions of time to file. It means missing a tax deadline without taking any action. 

b. A taxpayer must not have any unfiled tax returns.

c. The taxpayer agrees to file on time and to pay on time in future tax years.

d, The taxpayer agrees to allow the IRS to take any refunds you may be given in the future.

The minimum monthly payment the IRS will accept is the total of your balance due, including penalties and interest, divided by 36 months. If you want to pay more than this to get rid of the debt in less than 36 months, you certainly can.

The main benefit of a guaranteed installment agreement is that the IRS will not file a federal tax lien or issue an order to levy. Tax liens, like mortgage liens, give the IRS the right to certain assets if you don't pay. A tax levy gives the IRS the right to seize certain assets such as wages and bank accounts. Both IRS tax liens and tax levies can be reported to the credit bureaus and may negatively impact your credit score.

​Individual IRS Repayment Plan

Should you not be eligible for a guaranteed installment agreement, you may qualify for an individual payment plan by going to IRS.gov/opa.

Taxpayers can qualify for this type of installment agreement when the balance owed to the IRS is $50,000 or less.

According to the IRS, individuals can make full payment, or the taxpayer can assume a short-term payment plan (paying in 120 days or less) or a long-term payment plan (installment agreement) (paying in more than 120 days):

• You can apply online for the long-term payment plan if you owe $50,000 or less in combined tax, penalties and interest, and have filed all required returns.

• You can apply for the short-term payment plan if you owe less than $100,000 in combined tax, penalties, and interest.

Partial Payment

Installment Agreement (PPIA)

A partial payment installment agreement (PPIA) with the IRS allows a taxpayer to make a monthly payment to the IRS that is based on what you can afford after accounting for your essential living expenses. To qualify, you must owe over $10,000, have no outstanding returns (unfiled tax returns), have limited assets, and have no bankruptcies. To request a PPIA, you must file Form 433 with Form 9465.

You can calculate your payment based on your disposable income using IRS Form 433. There is a filing fee of $225 ($107 if you select the direct debit option). A partial payment plan can be set up for a longer repayment term, and the IRS might file a federal tax lien to protect its interests. You may have to provide pay stubs and bank statements to support your application and substantiate any equity you have in owned assets. The IRS might also require you to sell those assets to pay your tax debt rather than enter into a PPIA.

The terms of an IRS installment agreement (IRS.gov installment agreement) will be reviewed every two years in case you can make additional payments.

It is best to seek the advice of a federally

authorized tax professional, such as an

experienced Tax Lawyer, if you are unable

to pay your tax debt.

A tax lawyer from Flat Fee Tax Relief will

talk to the IRS on your

behalf and can help you manage the

the process so that it is not so 

overwhelming. A Tax Lawyer can also

help you analyze your current financial

situation and tax issues to help you decide

which tax relief program will best suit your needs.

​

IRS Offer in Compromise

Before entering into any IRS repayment plan, find out if an Offer in Compromise (IRS OIC) is a better alternative. An IRS Offer in Compromise can be the best possible outcome after all other tax relief options have been exhausted. A tax settlement submitted through the Offer in Compromise program involves negotiating with the IRS to pay a lump sum for less than you owe. Your chances of receiving a favorable Offer and Compromise outcome are greatly enhanced should you decide on Flat Fee Tax Service.

The Offer in Compromise program is the ultimate tax settlement. An IRS Offer in Compromise will only be considered if the taxpayer is "eligible and qualified" and is unable to make any type of installment plan agreement. Being "eligible and qualified" means that you owe more than $10,000 and that your previous six (6) years of tax returns have been filed.

If you are a business, the qualifications will be a bit more involved but nothing that we cannot handle.