TaxAudit Blog

Tag: Installment agreement

Two model houses and stacks of money

An IRS levy is the actual seizure of property you own. An IRS lien is a public document that notifies any creditors that the IRS has a right to your property.

Read More ›

Installment Agreement

An IRS Installment Agreement can be very easy or complicated, depending on your circumstances.

Read More ›

Installment payment plan sign

IRS notice CP523 informs you the IRS intends to terminate your installment agreement or payment plan because they haven't received one or more monthly payments.

Read More ›

Writing Check

If you received an IRS notice CP521, it is because you entered into an installment agreement with the IRS for taxes owed and your monthly payment is now due.

Read More ›

Debt Relief Just Ahead sign

The taxpayer owed over $30,000 in back tax debt that she couldn’t afford to pay. Not knowing what to do, the taxpayer contacted TaxAudit for help.

Read More ›

Picture of

Thirty days from the date of the IRS Notice CP90, the IRS has the right to begin taking assets. This can include bank accounts, wages, and retirement accounts.

Read More ›

Man reading a letter - distressed

IRS Notice CP60 informs taxpayers a payment was posted to their account in error. The IRS removed the payment and the taxpayer now owes additional tax.

Read More ›

Need Help? and Taxes written on sticky notes on top of tax forms

Rest assured that there are extensive resources available to help a taxpayer who owes more taxes than he or she can pay. Let explore some options.

Read More ›

Man reading a letter

An IRS CP501 is an official notice from the IRS Collections Unit that is sent to taxpayers to inform them that they have an outstanding debt.

Read More ›

Handcuffs laying on a 1040 form

There are many ways taxpayers can deal with getting their tax debts settled but the best path for each taxpayer depends on the circumstances of their case.

Read More ›

Mississippi Flag

The State of Mississippi’s Department of Revenue (DOR) provides a number of different methods for you to deal with your tax problems and get your debt resolved.

Read More ›

Taxes Due written on a note

The IRS wants to get paid but it understands a lot of folks cannot pay in full right away, so the IRS created several ways to work with taxpayers who owe money.

Read More ›

Puzzle with missing piece - money shown where piece is missing

If the IRS hasn't debited your accound payment, the first step is to contact your bank to see if the payment has been taken from your account.

Read More ›

Installment Agreement on a Clipboard

You can indeed arrange IRS payments. You can negotiate a plan with the IRS to pay your debt off in either a short-term or long-term series of installments.

Read More ›

Woman Doing Financial Paperwork

You owe money to the IRS and you can’t pay it all off right now. Let's explore different payment plan options based on your tax situation.

Read More ›

Wage Garnishment

The IRS uses an annually updated wage garnishment table to determine how much the taxpayer needs to live on and then the IRS takes the rest.

Read More ›

Woman reading document

The IRS offers a series of payment plan options for those individuals and businesses who need more time to pay their tax debt.

Read More ›

blank check and a pen

Yes, the IRS does offer payment plans to those taxpayers who owe taxes. The IRS offers a series of payment plan options for those who need more time to pay. 

Read More ›

Business Owner Looking at Receipts

There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

Read More ›

Tax Resolution Specialist

If you find yourself with tax debt due to unpaid payroll taxes, you may have options to help settle the debt. Let’s review some payroll tax debt relief options.

Read More ›

Fresh Start Ahead

If you’re struggling with back taxes, you may be able to qualify for assistance under an IRS initiative called Fresh Start. Here are 3 ways to be eligible.

Read More ›

Couple looking at financial paperwork

Yes, the length of time the IRS is allowed to collect a tax debt is generally limited to 10 years. Is waiting out this period a strategy for resolving tax debt?

Read More ›

Wage Garnishment

If you are buckling under the weight of an IRS wage garnishment, it is time to get yourself free! We have seven practical ways to stop an IRS wage garnishment.

Read More ›

Man holding sign saying HELP!

When a taxpayer receives a collection notice from the Internal Revenue Service, their typical first reaction is one of panic but it doesn't have to be scary.

Read More ›

Tax Refund Check

If you owe the IRS back taxes, don’t start spending your refund before it arrives. The IRS can levy or take your refund and apply it to your tax debt.

Read More ›

Man distressed with tax bill

First, it is essential to make sure you actually owe the tax due. The next step is to figure out how to pay the tax as quickly and painlessly as possible.

Read More ›

Debt Burden Cartoon

Yes, there are legitimate tax relief companies that can help you reduce your tax debt. However, there are scam companies as well. Learn what to look out for.

Read More ›

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)

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

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:

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

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.

Read More ›

Four Ice Cream Cones

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

Read More ›

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.

Read More ›

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.

Read More ›

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).

Read More ›

SEARCH

This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.