Nov 4, 2021
Can't Pay Your Taxes? Set Up An Installment Agreement with the IRS.
The IRS has several different types of installment agreements that you can set up, and it all depends on what you're able to pay and what you want to pay in your current financial situation.
If you're settling in full, that means you have the income and the equity in your assets to pay your taxes. You're going to be paying what is called the Streamlined Installment Agreement.
If you're unable to pay in full, go for the Partial Pay Installment agreement, an income-based program. You're going to be submitting a financial application to the IRS with Forms 433-A and 433-B, and you're showing how much you can pay. The good thing about the Partial Pay Installment is that your tax may expire, and you may not pay the total amount. So that's an option many people are unaware of and something you should definitely see if you qualify for.
Let us help you solve your tax problems so you can sleep better at night. Schedule your free consultation with Jonathan Donenfeld at 201-479-2572 or visit us at www.201tax.com.