TAX RELIEF SERVICES

Installment Agreement

If you are behind on your taxes, you may qualify for an IRS installment Agreement Payment Plan.

What is an Installment Agreement?

Installment agreement allows taxpayers to make more manageable monthly payments on their back taxes.

Why Setting up an Installment Agreement is Important

It’s crucial to get an installment agreement set up as soon as possible for a few reasons. You won’t have to pay the full amount of taxes you owe by making affordable monthly payments. Once you’re set up, the IRS will “stop their collections actions” against you. If there were any levies filed, they will be released, too.

Based on your financial documents and information we request from you, James M. Cha, CPA & Company will obtain the best possible payment plan that is most affordable for you.

We can draw out an IRS payment plan that works best for you. You won’t have to pay the entire amount of back taxes all at once. We work with the IRS to minimize the penalties and interest, so you’re left with fair, affordable monthly payments.

How We Help

If you qualify, we will negotiate with the IRS to set up an affordable payment plan called “Partial Payment” Installment Agreement. In this agreement, you won’t be paying off the entire amount of back taxes you owe, and any balance left at the end of the term of the installment agreement is forgiven. We will create an IRS payment plan that expires long before the back tax is paid in full, as well as negotiating the lowest possible penalties and related interest.

Not everyone is eligible for a Partial Payment Installment Agreement. However, setting up a successful Agreement can be a huge benefit for the taxpayer, saving a substantial amount of back taxes.

It is wise to seek help from a Certified tax professional, as they will negotiate with the IRS in your best interest, and complete the required steps to enter into the agreement.

To know which option is the best for you, contact our tax professionals at James M. Cha, CPA & Company. All cases are different, and we can help determine which option is the best for you. We’re the best at handling this process and will get the best possible deal with the IRS for you. Contact us now!