Installment agreements

A concern frequently voiced by my clients is whether entering into an installment agreement with the IRS automatically extends the time the IRS has to collect. The perception is that if you agree to an installment agreement with the IRS, you are in it forever. Quite simply, you aren’t.  IRS installment agreements have end dates. […]

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You negotiated a payment plan with the IRS, and they have been leaving you alone.  As long as you make that payment, IRS letters and calls are on hold, and things are OK. But what if you have a sudden, unexpected expense.  Or an unexpected reduction in income? What if you simply get to the point […]

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I would like to share my response to a reader who was experiencing financial hardship because the IRS had levied his state income tax refund, and he needed the money to get his house out of foreclosure. As the reader correctly pointed out, the problem with the IRS levy was that it was made while […]

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You’ve made it – reached account resolution with the IRS by entering into an installment agreement to repay your taxes.  You may have had to negotiate with a local IRS Revenue Officer, or over the phone with the IRS automated collection service.  Maybe, you had minimal negotiations, made possible by qualifying for a streamlined installment […]

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If an IRS tax lien is hurting your credit, or stopping you from purchasing a house or car, the IRS offers a path to freedom. The IRS will withdraw the lien from public record in the following circumstances: 1.     The amount you owe is under $25,000.   But this is flexible – see […]

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You decide to tell the IRS collection representative what you make, give them your paystubs, and innocently list your monthly living expenses.  You would like a payment plan, and have some idea of what you can afford.  Or you do not think you can afford any payment, and would like the IRS to put your […]

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