IRS Tax Solutions - Installment Agreement
Installment agreement - pay your IRS debt over time.
The IRS does not have to agree to an installment agreement, nor do they have to agree to the amount of the installment agreement. There are 3 types of installment agreements: streamlined installment agreement, installment agreement, partial pay installment agreement. I will discuss all three agreements below.
A streamlined installment agreement is for individuals who owe $25,000 or less to the IRS and can afford to pay that amount over 60 months.
The next is your basic installment agreement. The IRS will require you to fill out a financial form (433A or F depending on whether or not you are self employed). Once you have done that you will submit it to them for review. Your installment agreement will be based on that financial form. Essentially your monthly income minus your monthly "allowable" expenses. Notice that I said "allowable" expenses. That does not mean that all expenses that you have every month will be considered allowable by the IRS. If possible, that is where pre-planning comes into consideration before the financial form is filled out.
Finally, the last installment agreement is called a partial pay installment agreement. The reason that it is called this, is because the IRS only has a certain amount of time to collect your taxes called the collection statute of limitations. If your statute of limitations is going to run out before the installment agreement will be paid in full, then you have a partial pay installment agreement. Unlike the streamlined installment agreement and the basic installment agreement, this installment agreement will not pay your taxes in full before the statute of limitation expires.
As a local Sarasota Tax Attorney concentrating in IRS Problem Resolution, I can help you decide if an IRS Tax Debt Installment Agreement is the right solution to your IRS problem. Please call the Law Office of Mary E King for your free consultation at 941.906.7585 or email Sarasota Tax attorney Mary King Esq. for your free IRS Tax help consultation and learn more about how an IRS tax debt installment agreement could help you.
Sarasota Florida IRS Tax Relief Attorney Mary E. King, works to help taxpayers' IRS Tax problems offering guidance for IRS Tax debt solutions including, offer in compromise, Installment agreements, Penalty abatement, Innocent spouse relief, currently not collectable status, bankruptcy and other methods to resolve your tax problems.
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The Law Office of Mary E. King P.L. - Florida Tax Attorney
Sarasota Tax Attorney Mary E King has been personally meeting taxpayers with IRS tax problems in the Sarasota area and has the experience to help solve your IRS federal tax problem. Not sure if you need to contact Mary? review our IRS tax problem FAQs.
Attorney Mary E King is located minutes away from Bradenton Florida. Bradenton taxpayers with IRS problems can benefit from a personal meeting with experienced tax lawyer Mary E King, she has specialized in helping Bradenton and other Florida suncoast taxpayers resolve their IRS problems for tax relief.
It is essential for your Florida tax lawyer to be an expert on local Florida tax laws and regulations and how they may affect your federal tax problems. As a tax attorney in Florida helping Florida clients with IRS tax problems since 1993, attorney Mary E King Has the experience to help resolve your tax problems or answer any tax questions you may have.
