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Owing money to the IRS is certainly not something anyone wants to do. There are several reasons why an individual may owe money to the IRS. These reasons range from not sending in a payment for tax owed at the time of filing to failing to file a tax return. There are, of course, more reasons, but these are two of the most common reasons why individuals seek out an IRS payment plan to pay the tax they owe.
IRS payment plans are for those who have a tax debt that is too high for them to pay in one lump sum. Such a payment plan is called an IRS installment agreement. This IRS tax payment plan must be set up to avoid collection action. However, you must be able to demonstrate that paying the tax debt in full or in large payments would create an economic hardship for you. Fortunately, it isn't very difficult to demonstrate to the IRS that paying large sums would take food off the table or result in utility bills not being paid. As a result, a tax payment plan can be put into force as soon as the IRS approves it.
If you are not sure where to start, that is what we are here for. The sooner you take action, the less you will have to pay in penalties, interest, and fees. We can assess your situation and see if you may qualify for an IRS installment agreement. You may also qualify for hardship deferment, which gets the IRS to leave you alone. This is not something to count on, but it is a possibility. By letting we help you; we can negotiate with the IRS and find a solution that will work for you and for the IRS. After that, you do not have to worry about your tax debt anymore.
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