If you do not qualify for an Offer in Compromise, the next best solution is the Installment Agreement. An Installment Agreement is an agreement between the IRS and the taxpayer where the taxpayer agrees to settle his tax debt by making regular monthly payments until the balance is paid off in full. There are specific and complicated formulas that the IRS uses to calculate the amount of the monthly payment. It is important that you retain the services of a company like ours to negotiate the amount of the payment. The IRS wants to make the payment as high as possible - even if it means putting you in a financial hardship situation. We will negotiate on your behalf to make the monthly payment an amount you can comfortably afford.
Once you begin making your monthly payments, it is important that you never miss a payment. If this ever happens, the agreement may be revoked and all monies you paid into it may or may not be credited towards your account. Be sure to let us know ahead of time if you know you'll be late with a payment.
The Installment Agreement is the most common solution chosen by taxpayers. Call us today at 800-590-4524 or fill out the form to the right and get us working on resolving your tax problem so you can Worry Less and Live More!
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