How To Request a Partial Payment Installment Agreement
Requesting a partial payment installment agreement with the Internal Revenue Service can be easier and less time-consuming than requesting an offer in compromise. In a partial-payment installment agreement, the taxpayer makes regular monthly payments to the IRS, but the payments do not pay off the tax debt in full. After the terms of the installment agreement are fulfilled, the remainder of the tax debts are forgiven. Partial-payment installment agreements are one way to get out of tax debt.Difficulty: AverageTime Required: 2 hoursHere’s How: • Consult with a tax professional who has experience in handling tax debts. You will need to know what your options are for settling your tax debts, and you may need help in negotiating the best possible monthly payment.
