IRS Payment Plans

 IRS payment plans also known as installment agreements, payment agreements, or payment options are available to qualifying taxpayers. The IRS payment plan known as an Installment Agreement (“IA”) is a written agreement to satisfy tax liabilities in installment payments. For an IA to be acceptable, the following requirements must be met:  

  1. The liability must be full-paid within the statute of limitations, except in the case of a “partial pay” IA;
  2. The taxpayer must be in full compliance during the term of the agreement;
  3. The taxpayer must provide updated financial information upon request from the IRS, and
  4. The taxpayer must pay a $52 fee for installment agreements that include automatic bank debit form of payment, and $105 for other installment agreements

Prior to entering into an IA, the IRS would make a determination as to the monthly amount that the taxpayer can afford to pay. To compute this monthly amount, the taxpayer’s gross income and actual expenses are computed. Then, based on the gross income and the number of dependents, the IRS allowable income expenses are computed using the IRS National Standard Expense (NSE) for food, clothing, misc., the Local Standard Expenses (LSE) for housing, and the allowable transportation expenses. Other actual allowable expenses include court ordered payments, taxes, insurance, etc.

 

Although the IRS is supposed to use the NSE and LSE as a guide rather than as an absolute, there are few instances that actual expenses in excess of the IRS allowable standards are allowed. The monthly payment amount is the difference between the gross income and the allowable necessary expenses.  

 

If you are interested in setting up an IA or alternative form of payment plan with the IRS in order to pay your tax liability, the tax attorneys at Bucci Law Offices can help. 

Even if you cannot pay all of your back taxes immediately, you can still stop the IRS’s enforced collection actions and try to settle your tax liabilities by negotiating a reasonable monthly payment plan or an offer in compromise settlement that pays a fraction of what is owed.  At Bucci Law Offices, our tax attorneys can help you establish these alternative payment methods as well as analyze and assess other options that may be more suitable to resolving to tax problems.   Bucci Law Offices can be your tax advocate and fight for your rights! 

How Can Bucci Law Offices Help?

Dealing with the IRS alone can be very intimidating, often times, resulting in nothing more than increased interest and penalties being assessed against you.  We can eliminate this stress for you.  You can stop answering harassing phone calls and receiving letters from the IRS.  Instead, you can have us, your trusted partner, deal with the IRS on your behalf and help you get the results you need.  The attorneys at Bucci Law Offices have extensive experience with the IRS and can navigate through their rules and regulations, while advising you of your best possible options for resolving your IRS problems. 

Remember, IRS problems do not go away by themselves and usually require immediate attention.  You need to know your rights and understand your options.  At Bucci Law Offices, our tax attorneys can help you analyze and assess the options most suitable to resolving your tax problems. You need someone in your corner to protect your rights and interests – we can do just that.  Bucci Law Offices can be your tax advocate and fight for your rights!

Contact Bucci Law Offices today to get the help you need and deserve.  Each second you delay is costing you money!  How long can you afford to do nothing? Call Bucci Law Offices now at 954-764-4440 or 877-764-4440 to learn more about how we can help you with your tax resolution!