Many taxpayers think when faced with taxes owed that their only option is to immediately pay the IRS in full or else IRS will instantly garnish wages or levy bank accounts. This is not always true and the tax professional at Tax Law Center will consider all options, even an agreement to make payments toward taxes owed. An installment agreement (or monthly payment plan) will assist in allowing the IRS to not take enforcement action via levies but allows the taxpayer the time to make payments. If a taxpayer is compliant with all tax filings (not meaning the taxpayer has paid all taxes only that has to file all taxes due), we can negotiation and enter into an installment agreement to pay back the taxes through an installment agreement. As long as the taxpayer remains compliant thereafter in filing and paying future taxes due, the taxpayer can generally remain on an installment agreement by making an agreed upon monthly payment to the IRS for back taxes owed and this agreement stops any future levies, garnishments and seizures.
While this may sound reasonable, in practice the IRS makes this agreement difficult to accomplish. Many times the IRS may want more in a monthly payment then you can afford. The IRS’ logic is based on allowed expenses verses your actual expenses. Our team of tax professionals at Tax Law Center will fight for your rights against the IRS in seeking a payment that our client can truly afford based on what is allowed and in the law. Let us advocate for you in negotiating an affordable IRS monthly payment.