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IRS Tests Expanded Streamlined Processing of Installment Agreements

Is the IRS after you? We can make your IRS troubles go away and bring you peace of mind and a reasonable installment agreement.

The IRS recently announced a pilot program expanding the ability of taxpayers to qualify for Streamlined Installment Agreements. The test will be conducted through September 30, 2019.The IRS test program doubles the dollar limit to $100,000 for taxpayers to set up streamlined payment plans for their tax deal. Before this new test program, taxpayers in need of tax relief who owed more than $50,000 had to negotiate payment plans that required providing the IRS with detailed financial disclosure.

Tax Relief

The program will make it easier to set-up a payment plan for more taxpayers, by:

  • Increasing the dollar threshold for streamlined processing from $50,000 to $100,000, if taxpayers agree to pay by direct debit from their bank account or payroll deduction.
  • Increasing payment terms from 72 months to 84 months (subject to the statute of limitations on collections).
  • Removing the requirement to submit financial documentation that’s normally required for installment agreements with tax debt of more than $50,000.

The IRS will continue to file a federal tax lien on taxpayers who owe more than $50,000. Therefore, taxpayers who owe between $50,000 and $100,000 who have the ability to pay down their balances to less than $50,000 may do so. Taxpayers must agree to direct debit installment payments.

When the IRS has fewer employees these days, but its computer is still sending out collection letters . Don’t delay. Stop the IRS before they stop you!

Call Enrolled Agent Richard Schickel at 520-448-3531 for your free case evaluation. You may qualify for a one-time reasonable fee to get tagreement that you deserve.

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