Installment Agreements
When facing the IRS, the sooner the situation is addressed, the better. Owing back taxes is a heavy burden to bear, so it's best to seek the counsel of an experienced tax relief lawyer who has handled cases like yours and has been successful. The situation may be difficult, but you have options. Our skilled tax professionals can help identify a suitable tax relief plan that works for both parties. We have been in the same place you find yourself in right now, so we are confident that a solution can be reached.
What is an Installment Agreement?
An installment agreement allows you to repay the money you owe to the IRS in installment payments. An installment agreement, comes with interest and penalties that can reach up to 10%, however, if you qualify for a short-term payment plan, you will not be liable for a fee.
At Florida Tax Law Group, our IRS installment agreement practitioners in Tampa can help our clients with the 4 types of agreements:
- Guaranteed Installment Agreement: you owe less than $50,000 and have never been in an Installment Agreement before, and the amount owed will be paid off within 3 years
- Streamlined Installment Agreement: similar to the Guaranteed Installment Agreement, but the amount owed must be paid within 72 months
- Partial Payment Installment Agreement: an agreement for partial payment of the amount owed
- Non-Streamlined Installment Agreement: the taxpayer owes more than $50,000 so must propose a repayment plant with the IRS
Are you facing problems with the IRS?
An installment agreement may be the answer. Call us at (844) 511-4800 or contact us online for a free phone consultation with an installment agreement attorney in Tampa, at the Florida Tax Law Group.