Keith Jones, CPA Newsletter
4 IRS Payment Plan Or Installment Agreement Types
If you are unable to pay your balance in full, you may set up an IRS payment plan so you can pay back past taxes in manageable chunks if you need extra time.
IRS Installment Agreement
IRS tax payment plan Agreement or IRS installment plan can help income taxpayers pay off their tax debt over a period of time in the form of an installment loan agreement. Typically, IRS plans take five years or less to be paid in full. The monthly payments have a fixed due date. The payment amount is based on the amount owed and how much you can afford to pay each month.
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