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Things You Should Know Before Getting an IRS Installment Plan

Things You Should Know Before Getting an IRS Installment Plan

By on Oct 17, 2015 in IRS, Tax Tips | 0 comments

Things You Should Know Before Getting an IRS Installment PlanIf you owe the Internal Revenue Service (IRS) and have quickly discovered that you are unable to pay the amount owed in full, don’t fret! There is a way to pay the IRS without going broke! All you need to do is arrange an installment plan with the IRS.



They are more than happy to take your money at whatever amount! The important thing is to pay what you owe. Otherwise, penalties will be added to a debt that you already had trouble paying. This all can be avoided by paying the IRS what you can afford.

Before moving forward with a payment arrangement, there are some facts that one might want to educate themselves with before getting an IRS installment plan. First, one must determine whether their debt is due to an individual or business filing. Different stipulations apply for business and individual filings. However, both individual and business filings are eligible for an online payment agreement.




Must owe $50,000 or less in penalties and interest and have filed all required returns.Must owe $25,000 or less in payroll taxes and have filed all required returns.


If for some reason a taxpayer does not meet theses stipulations, but still owe an amount that they cannot afford to pay in full, they can still arrange a payment plan by filling out the Installment Agreement Request, Form 9465 and the Collection Information Statement, Form 433-F.

Small businesses can inquire about the In-Business Trust Fund Express Installment Agreement.

Don’t Default!

Just because the IRS has agreed to set up a payment plan with a taxpayer doesn’t mean that all of their tax problems are over. The IRS resolves the right to dismiss any agreed upon installment should there be one missed or late payment. So it is important to access what you can afford to pay, less you default on your arrangement and end up owing a lump sum of money that you cannot afford.  In a case like this, the IRS will collect what they owe even if it means garnishing your wages.

Garnishing Wages

When it comes to garnishing wages, the state and federal law allow creditors to take up to a certain amount. However, when it comes to the IRS, they are only required leave a certain amount. Here again, there is a difference. The IRS will take as much money from your check as required according to the tax code that states a set amount a household needs in order to survive with the basic living necessities. This varies for every household’s lifestyle. Yet, when it comes to owing taxes, the IRS doesn’t see it that way. 

Let Us Help You

Don’t have to worry yourself about which forms to use or how to go about arranging a payment plan. Success Tax Relief can reconcile any tax issues you may have with the IRS. Our company has over 30 years experiences working with CPA’s, tax attorneys, financial analyst, case coordinators, tax preparers and consultants. Call us at 877-825-1179 or contact us online to schedule a consultation today.

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