TaxAudit Blog

Tag: Installment Agreement

Payment Plan displayed on Computer Screen

If you need some time to pay, the IRS has payment plan options available. (1) Short-term payment plan (2) Long-term payment plan (paying in more than 120 days)

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Wage Garnishment Button on a Keyboard

When you enter into a payment plan with the IRS, known as an Installment Agreement, the IRS will release an active wage garnish order.

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new plant growing out of coal

In 2011, the IRS launched the Fresh Start program and has since expanded the program in the hopes of assisting more taxpayers who carry federal tax debt.

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woman distressed about tax bill

Thankfully, for those who owe federal income taxes on their 2019 individual income tax return or are on the hook for prior tax years, help has arrived.

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Four jars with money and plants growning

The Fresh Start program is designed so that taxpayers pay their debt in full within six years, and without a serious financial burden being placed upon them.

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Back Taxes written on a computer screen

If you owe back taxes, there are options to resolve your back taxes, and TaxAudit can help. Here are a few possible options:

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IRS Installment Payment Plan

Yes, it is possible to pay taxes in installments. For many people, the process of applying for an installment plan with the IRS may not be difficult.

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Cash with a metal chain and lock wrapped around it

Two words: almost anything. Wages, retirement accounts, bank accounts, vehicles, houses, furniture, and even passports are all fair game.

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Owe Taxes

No matter the cause of each person’s tax debt, there are a number of different programs offered by the IRS to help taxpayers get back into the good books.

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Book with California Taxes written on the cover

Options are available to those who cannot pay their taxes in full by the deadline. A good line of communication with the CA Franchise Tax Board is critical.

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Man with tax burden

Having a tax bill is not a situation anyone wants to be in. Fortunately, there are ways to deal with tax debt owed to the IRS. Let's explore a few solutions.

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Tax Debt Relief

Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options.

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Four Ice Cream Cones

So, what happens if you miss an Installment Agreement payment and/or can no longer make the agreed upon payments?

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Ice Cream Sundae

Of all the types of Installment Agreement requests, Streamlined Installment Agreements are the most varied and provide a bit of flexibility for the taxpayer.

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Two bowls of ice cream

This blog post discusses the rules and fees regarding Guaranteed Installment Agreements for taxpayers whose tax debt is $10,000 or less.

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Bowl of Ice Cream

Sometimes it only takes six little letters to strike fear in the bravest of taxpayers: IRS IOU (technically, it's not an IOU, but rather a bill).

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