Installment Agreements

Installment Agreements


If an individual owes less than $25,000.00 in personal tax liabilities to the IRS, the IRS has established a “quick resolution” program which will allow a 36 month (maximum) installment plan to pay off the liability. If the taxpayer can afford a payment that would satisfy the liability in 36 months, the IRS requires minimal financial information to establish an installment agreement.

If an individual owes less than $50,000.00 in personal tax liabilities to the IRS, the IRS has established a “FRESH START” program which will allow a 72 month (maximum) installment plan to pay off the liability. If the taxpayer can afford a payment that would satisfy the liability in 72 months, the IRS requires minimal financial information to establish a “Fresh Start” installment agreement.


 

NOTICE:

This article provides general information about California law and is not legal advise. Please contact our office or another legal professional for information about your particular situation.