IRS Tax Installment Agreement with The Law Offices of Nick Nemeth
  • November 14, 2018
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Though the IRS requires every taxpayer to pay their taxes on time, many people are unable to abide by the directive. But not all is lost. The IRS tax installment agreement, as the name suggests, is a payment plan for taxpayers who are unable to pay off the entire debt in one go. The Law Offices of Nick Nemeth has a team of experienced IRS tax lawyers who can help you request an installment agreement with the tax agency through the following types of installment agreements. Take a look.

Guaranteed Installment Agreement

A taxpayer qualifies for this installment plan if they owe less than $10,000 in taxes to the IRS. In addition, they need to satisfy certain other conditions, such as they shouldn’t have any late filing, late payment, or installment agreement in the previous 5 years. The biggest advantage of going for a payment plan is that once the request is approved, the IRS will not file a federal tax lien against the taxpayer for any outstanding dues.

Partial Payment Installment Agreement

A partial payment installment agreement (PPIA) entails making a partial payment of the taxes owed, based on what the taxpayer can actually afford. To qualify for this payment arrangement, the taxpayer must submit Form 433-F reporting their income and living expenses. If the IRS approves the request, the taxpayer will be required to undergo a financial review every 2 years. The reviews are done to evaluate whether their financial situation has changed, based on which the IRS decides the course of further actions.

Streamlined Installment Agreement

Taxpayers who owe $50,000 or less to the IRS as of 2017 are qualified to request this IRS tax installment agreement. They must, however, agree to pay off the balance in 72 months or less. Just like in case of a guaranteed installment agreement, the IRS does not file a federal tax lien in streamlined installment agreements. In addition, taxpayers are not bound to submit Form 433-F.

Non-Streamlined Installment Agreement

This installment agreement is meant for taxpayers who owe $50,000 or more. This payment plan is also suitable for taxpayers who don’t qualify for a guaranteed or streamlined installment plan, and who need a repayment term longer than five years. As a part of this installment agreement, a taxpayer must file Form 433-F and propose an installment payment amount based on their income, expenses, and debts.

Must Read: A Guide to IRS Tax Installment Agreements

Request an IRS Installment Agreement, Today!

IRS tax installment plans can be the saving grace for many taxpayers who want to pay their tax liabilities but are actually unable to do so due to financial constraints. Dealing with Federal tax debts form one of the core service areas of the Law Offices of Nick Nemeth. Our IRS tax professionals can help analyze your present financial situation and debt level, and choose an installment program that best suits the dynamics involved. For a no obligation consultation, simply call (972) 426-2553 or fill out our contact form.

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What Our Clients Have to Say

Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
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