Tax Attorney San Jose, CA

Installment Agreement

Installment agreement

Setting up an installment agreement allows you to stay in good standing with the IRS while you pay off your back taxes over time. This type of plan breaks the amount payable down into affordable monthly increments. It is a good option for people that don't have enough money to pay off their tax debt all at once. Many taxpayers like installment agreements because the IRS may reduce certain accruing penalties once the agreement has been established. Rosado Tax Law can negotiate an installment agreement with the IRS on your behalf. Read on to learn more about how this arrangement works and if it's a possible payment plan for you.

How an IRS Installment Agreement Works

In these payment plans, the taxpayer must commit to send a reasonable sum to the IRS each month. Some plans require only a small monthly payment until the statute of limitations is reached and then the rest of the tax debt is cleared, while other plans require full repayment over time. The designated amount of the monthly payment will be determined by what the taxpayer has the ability to pay. These installments must be consistently paid on time to avoid defaulting on the agreement.

Applying for an Installment Agreement

As with any tax resolution efforts, the first step is to file your delinquent tax returns and then you'll be ready to apply using IRS Form 9465. Nicholas Rosado can prepare and file this form on your behalf to request the installment agreement.

Call tax attorney Nicholas Rosado at 408-217-2476 today or request a free consultation online now to find out how you can start a tax payment plan with the IRS.