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Can I make installment agreement tax payments to the IRS?
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| Yes, you may be able
to make installment payments to the IRS. If you cannot pay the full amount
of the tax due with your tax return, you may ask the IRS for
permission to make
monthly installment payments. However, you will be charged interest and a late payment
tax
penalty by the IRS on the tax not paid by April 15th, even if your request to pay tax in installments is
granted by the IRS. Before requesting a tax installment
agreement from the IRS, you should consider less costly
alternatives, such as a bank loan. If you can't pay the amount
of tax you owe to the IRS in full, file
your tax return on time and attach to the front of the tax return either a completed
Form 9465, Installment
Agreement Request, or your own written request for a tax payment plan, specifying the
amount of tax and the date you can pay tax to the IRS each month. If you have already mailed your
tax return and
have received a tax notice or tax bill requesting tax payment from the IRS, contact the IRS immediately by calling
the telephone number shown on the IRS tax notice. You may be eligible to establish
an installment
agreement with the IRS by telephone. If you prefer you may attach a completed
Form 9465 or your own
request to the tax notice and mail it to the appropriate IRS office. The IRS will let you know,
usually within 30 days, whether your request for an installment agreement
is approved or denied, or if additional
information is needed. If the installment agreement is approved, a one-time user fee of $43 will be charged.
If you are unable to pay the tax due and doing so would
result in a severe hardship you can apply for a special tax payment extension on
Form 1127.
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| Related information
about installment agreements |
Tax Directory Topics:
I owe money. What should I do?
How to avoid an IRS audit?
How to prepare for an IRS audit?
What are my appeal rights?
What are the tax penalties and interest? Can they be
avoided?
How does the Statute of Limitations affect income tax
obligations?
How does the Bankruptcy Code affect income tax obligations?
Taxpayer Bill of Rights
Tax Payments and Tax Refunds
Tax Audits, Tax Collections and trouble with the IRS |
IRS publications about IRS tax installment agreements:
For more details on installment agreements refer to
IRS Publication 594, Understanding
the Collection Process. For further information on the appeals process, refer to
Tax
Topic 151, Your Appeal Rights. Also see
IRS Publication 1,
Your Rights as a
Taxpayer,
IRS Publication 5, Appeal
Rights,
IRS Publication 556, Examination
of Returns, Appeal Rights.., and
IRS Publication 17, Your Federal
Income Tax.
Please read this IMPORTANT
Editor's Note regarding navigating IRS publications with Adobe
Acrobat
Reader.
IRS publications can also be ordered by calling 1-800-829-3676.
IRS Links:
IRS
Appeals
IRS Problem
Resolution Office
IRS
Taxpayer Advocate |
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