Tax Installment Agreements
Collection Officers can:
- Request endless amounts of financial information
- Demand that you refinance or sell your home
- Attempt to force you into a payment plan that is significantly more than you can actually afford to pay
At Traxion Tax, we work directly with the Collection Officer for you. In many cases, our clients never have to meet with or speak to the taxing authorities again.
When dealing with taxes, it is essential to know what requirements and alternatives there are for payment arrangements. Certain kinds of taxes and liability amounts will qualify for different repayment options. You shouldn’t be bullied by Collection Officers who try to put you into arrangements you can’t afford, or who won’t give you an agreement at all.
You have rights and you should exercise those rights! The best way to do so is to hire a knowledgeable and experienced representative who manages these cases properly – ensuring your rights have been protected every step of the way. Request Traxion Tax to be your representative.
IRS Fresh Start Program
The IRS Fresh Start Program began in 2008 and has since been expanded by the IRS. This program has strict eligibility requirements and not everyone will qualify. The program has multiple options including short and long-term installment agreement plans as well as an Offer in Compromise component. Request your Free Consultation today to learn more about whether this option fits your unique tax situation.
Tax Installment Agreements
The IRS issues hundreds of different notes and letters throughout the year to millions of taxpayers. Not all notices and letters are bad news. But some – like a notice of deficiency – are the type of mail no one wants to receive. However, receiving an IRS notice of deficiency is not the world’s end. You do have a plethora of options, although most of them amount to the same thing: dealing with your tax deficiency. Let’s assess the situation.
Tax Installment Payments
Taxpayers who receive a notice of deficiency from the IRS have several options, but most of them amount to the same thing: dealing with the tax deficiency. One option available to taxpayers is to enter into a Tax Installment Agreement (TIA).
A Tax Installment Agreement is an agreement between a taxpayer and the IRS in which the taxpayer agrees to make installment payments on their outstanding tax debt. Taxpayers who enter into a TIA are usually required to make monthly payments for a period of time (usually 24 months or less).
There are several benefits to entering into a Tax Installment Agreement. For example, taxpayers who enter into a TIA are typically not subject to late payment penalties or interest charges. In addition, taxpayers who enter into a TIA can often avoid having their wages garnished or their bank accounts seized by the IRS.
If you would like to enter into a Tax Installment Agreement, you can do so online using the IRS’s Online Tax Payment System (OTPS). You can also apply for a TIA by mail or by phone. For more information on how to apply for a Tax Installment Agreement, please visit the IRS website.
Related Tax Topics
- Tax Installment Agreements
- Tax Notices and Letters
- Tax Deficiencies
- IRS Online Tax Payment System (OTPS)
- Tax Penalties
- Tax Interest Charges
- Wage Garnishment
- Bank Account Seizure
- Tax Liens
- Tax Levies
- Tax Collection
- Tax Debt Relief
When the IRS assesses a tax deficiency, the taxpayer has several options for resolving the problem. One option is to enter into a Tax Installment Agreement (TIA). A Tax Installment Agreement is an agreement between the taxpayer and the IRS in which the taxpayer agrees to make monthly payments on their outstanding tax debt. Taxpayers who enter into a TIA are usually required to make monthly payments for a period of time (usually 24 months or less).
There are several benefits to entering into a Tax Installment Agreement. For example, taxpayers who enter into a TIA are typically not subject to late payment penalties or interest charges. In addition, taxpayers who enter into a TIA can often avoid having their wages garnished or their bank accounts seized by the IRS.
If you would like to enter into a Tax Installment Agreement, you can do so online using the IRS’s Online Tax Payment System (OTPS). You can also apply for a TIA by mail or by phone. For more information on how to apply for a Tax Installment Agreement, please visit the IRS website.
What is a Tax Installment Agreement?
A Tax Installment Agreement (TIA) is an agreement between a taxpayer and the IRS in which the taxpayer agrees to make installment payments on their outstanding tax debt. Taxpayers who enter into a TIA are usually required to make monthly payments for a period of time (usually 24 months or less).
There are several benefits to entering into a Tax Installment Agreement. For example, taxpayers who enter into a TIA are typically not subject to late payment penalties or interest charges. In addition, taxpayers who enter into a TIA can often avoid having their wages garnished or their bank accounts seized by the IRS.
If you would like to enter into a Tax Installment Agreement, you can do so online using the IRS’s Online Tax Payment System (OTPS). You can also apply for a TIA by mail or by phone. For more information on how to apply for a Tax Installment Agreement, please visit the IRS website.
Taxpayers who receive a notice from the IRS that they owe taxes may feel overwhelmed and not know what to do. If you find yourself in this situation, you should know that you have options and one of those is to enter into a Tax Installment Agreement (TIA).
A Tax Installment Agreement is an agreement between the taxpayer and the IRS in which the taxpayer agrees to make monthly payments on their outstanding tax debt. Taxpayers who enter into a TIA are usually required to make monthly payments for a period of time (usually 24 months or less).
There are several benefits to entering into a Tax Installment Agreement. For example, taxpayers who enter into a TIA are typically not subject to late payment penalties or interest charges. In addition, taxpayers who enter into a TIA can often avoid having their wages garnished or their bank accounts seized by the IRS.
If you would like to enter into a Tax Installment Agreement, you can do so online using the IRS’s Online Tax Payment System (OTPS). You can also apply for a TIA by mail or by phone. For more information on how to apply for a Tax Installment Agreement, please visit the IRS website.
Entering into a Tax Installment Agreement can be a good solution for taxpayers who owe taxes and are unable to pay the full amount immediately. However, there are some things to keep in mind before entering into a TIA. For example, taxpayers who enter into a TIA are responsible for making timely payments and if they do not, the IRS may revoke the agreement. In addition, taxpayers should be aware that the amount of taxes owed will continue to accrue interest and penalties until the debt is paid in full.
If you are considering entering into a Tax Installment Agreement, you should contact the IRS to discuss your options and to see if a TIA is right for you.
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