Common Contracts
1 similar Installment Agreement contracts
ContractInstallment Agreement • January 7th, 2022
Streamlined Installment Agreement How Long Do I Have to Pay? The balance owed must be paid in full within 72 months (six years). Your payment each month will be 1/72th of the balance owed. For example, if you owed$10,000.00, your monthly payment would be approximately $138.89 Penalties and Interest will continue to accrue until balance is paid in full. What Are My Obligations?While in the installment agreement, you must comply with all tax laws, including, but not limited to, timely filing tax returns, if required, making timely payments of tax liability to the IRS, making timely estimated payments of tax liability, etc. If you file a tax return, and you are entitled to a refund, the IRS will likely apply that money to the balance owed. How do I apply?You can apply online at https://www.irs.gov/payments/online-payment-agreement- application, or by phone, mail, or in-person. A financial statement is not required to be considered for the program. Is There a Cost to Apply? Yes,
