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Installment Agreements

Our staff has extensive experience in negotiating Installment Agreements and assisting taxpayers with the paperwork that is necessary for obtaining an Installment Agreement.  We can assure you that we will NOT set you up for failure by agreeing to monthly payments that you cannot afford.

FREQUENTLY ASKED QUESTIONS

Yes. You must be in compliance with filing, meaning that all tax returns you or your business are required to file must be either filed or on a valid extension. If you cannot quickly get into compliance, contact an experienced tax relief professional to make sure you are not at risk of enforced collections (bank levies, garnishments, asset seizures, etc.).

Maybe. For small, individual tax liabilities, you might not need the assistance of a professional. However, for larger tax liabilities or for business tax liabilities, the assistance of a tax relief professional can make the difference between being “forced” into large monthly payments that can make it impossible for you to make ends meet and being granted affordable monthly payments that will allow you to meet the needs of yourself, your family, or your business.

Absent extraordinary circumstances, the IRS will not levy you while you are on an Installment Agreement.

Yes. Under most circumstances, a Notice of Federal Tax Lien will be filed even though an Installment Agreement is granted unless you qualify for a streamlined, guaranteed, or in-business trust fund express Installment Agreement. Contact an experienced tax relief professional to see if a Notice of Federal Tax Lien can be avoided given your circumstances.

The IRS can send you a Notice of Intent to Terminate your Installment Agreement. Contact an experienced tax relief professional immediately if this happens. Oftentimes, a professional can help you either avoid the default or quickly get your agreement reinstated. This is usually far superior to having to renegotiate a new installment agreement because you will be at an increased risk of enforced collections while your Installment Agreement is in default, and the IRS may be more reluctant to grant you another agreement because you defaulted.

Yes. Your Installment Agreement can default if you fail to file subsequent tax returns, if you accrue a new tax liability, or if the financial information you provided when you applied for your installment agreement was inaccurate. With some Installment Agreements, the IRS can periodically request updated financial information. If you have this type of Installment Agreement and you fail to respond to a request for updated financial information, your Installment Agreement can default.

Yes. With some Installment Agreements, the IRS may periodically request updated financial information. If your financial circumstances have
changed for the better, the IRS may increase your monthly payment. If you fail to respond to the request for updated financial information, the IRS can default your Installment Agreement.

Contact an experienced tax relief professional to see if your change in financial circumstances makes you a candidate for an Offer in Compromise

(tax settlement) or Currently Not Collectible Status (an agreement where you are not required to make any monthly payments). It may also be possible to negotiate lower monthly payments.

After we negotiate a manageable Installment Agreement on your behalf, we will stay by your side and protect you from default.  

We understand that unexpected expenses may “pop up” in the future and that there may be a month or two in which it is difficult or impossible to make your installment payment.  

Rather than defaulting your Installment Agreement and exacerbating your tax problem, simply give us a call before your payment is due.  Chances are, we can negotiate an extension for your payment or even make arrangements for you to “skip a month” without having your Installment Agreement default.

Ed Phillips
Ed Phillips
Cerritos, CA
Read More
"I thought I would be better off with local representation, but I couldn’t have been more wrong. After trying multiple ‘reputable’ local attorneys, I had gotten nowhere. This changed immediately when I engaged Fortress. Their professionalism was superior and they got the job done far more quickly than I expected. If you have state or federal back tax issues, you can’t go wrong with Fortress"

Attorneys vs Accountants
Which is Best for You?

Resolving your tax debt typically has very little to do with accounting, and everything to do with building and presenting a strong case.

Most CPA’s have very little experience, if any, resolving back taxes. Our attorneys do nothing but resolve back taxes, day in and day out.

Negotiation and persuasive skills, not number-crunching skills, get the best results when it comes to resolving back taxes.

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