📢 FAQ About IRS Installment Agreements
If you’re overwhelmed by a tax bill you can’t pay all at once, don’t worry — an IRS payment plan (also called an Installment Agreement) might be the solution.
Here’s a breakdown of the most common questions:
🔹 What’s an IRS Payment Plan?
It’s a formal agreement with the IRS that lets you pay your tax debt in monthly installments instead of all at once.
✅ As long as you make your payments on time, the IRS won’t garnish your wages or freeze your bank account.
🔹 Who Can Apply?
Individuals who owe $50,000 or less in combined tax, penalties, and interest, and who have filed all required tax returns, can usually apply online without extra documentation.
Businesses that owe $25,000 or less in payroll taxes may also qualify.
Owe more than that? You might still be eligible — but you’ll need to apply by phone or mail and provide detailed financial info.
🔹 How Do I Apply?
You’ve got a few options:
Online (fastest & easiest): Use the IRS Online Payment Agreement Tool
By phone:
Individuals: (800) 829-1040
Businesses: (800) 829-4933
By mail: Submit Form 9465
You'll need:
Your identity verified
Your balance owed
A monthly amount and payment method (direct debit from your bank is best)
🔹 Are There Setup Fees?
Yes — fees vary depending on how you apply and what plan you choose:
Direct debit plans have the lowest fees.
Low-income taxpayers may qualify for a waiver or reduced fee — but only if you apply using the correct process and meet income criteria.
🔹 What If I Can’t Afford the Monthly Payment?
The IRS offers hardship options, including:
Currently Not Collectible status — temporarily stops collections
Offer in Compromise — settle your debt for less (but only if you truly qualify)
⚠️ Be careful: Only a small number of taxpayers qualify for these programs, so beware of companies “selling” them as guaranteed solutions.
🔹 What If I Miss a Payment?
Missing a payment could cause your agreement to default, leading to:
Additional penalties
Possible wage garnishment
Renewed collection actions
If you’re at risk of missing a payment, contact the IRS right away — they may help modify the plan or grant a short-term extension.
🔹 Can I Change or Cancel My Plan?
Yes! You can log into your IRS online account at any time to:
Adjust the payment amount
Change your payment date
Switch to direct debit
Or even pay off your balance early (no penalty — and it saves interest)
💡 Need more info?
📅 Schedule a free consultation or case investigation:
www.assistancetaxrelief.com/appointments
📞 Phone: (720) 383-6160
📧 Email: adam@assistancetaxrelief.com
📠 Fax: (720) 484-8700