Installment Agreements

The fact is, many individuals do not qualify for an Offer In Compromise. But, those who have been rejected can receive some tax relief through an Installment Agreement. Installment Agreement plans are payment plans which allow you to spread out your payments to the IRS. By negotiating with the IRS, and determining that your liquid assets (such as cash or savings) are insufficient to pay off your tax debt, the IRS many allow you to pay off your debt with installments. Installment Agreements can be structured to spread out the total due over a maximum of five years. This means you have precious time to catch up and work out an affordable solution.

Installment Agreement is designed as an alternative, if you do not qualify for an Offer In Compromise. Contact San Diego Tax attorneys and we will give a profound explanation of this program, outlining a realistic proposal to meet your financial goals. To ensure that your Installment Agreement proposal is accepted, we will require about your income, expenses and assets. IRS representatives then use this financial information to determine the amount of disposable income you have available, and thus create a schedule of payments. Our professional tax lawyers will arrange and negotiate a tax payment plan that enables you to pay off your tax debt at an affordable rate.

The IRS will always accept some type of payment arrangement for past due taxes. In order to qualify for a payment plan with the IRS, you must:

• have filed all tax returns, even if you owe money,
• disclose all assets owned, including all cash and bank accounts,
• not have adequate cash available in a checking, savings, money market, or brokerage account to pay the IRS,
• not have the capacity to borrow the amount owed to the IRS from other sources (i.e., a second mortgage on your home),
• not have adequate equity in a retirement account from which you can borrow or liquidate.

San Diego Tax Attorneys will negotiate an installment agreement for you!