Tuesday Tax Tip

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part III)

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part III) To be eligible for an Installment Agreement, you must file all required tax returns. Prior to approving your Installment Agreement request, the IRS may ask you to complete a Collection Information Statement (Form 433F, 433-A and/or Form 433-B) and […]
Read More

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part II)

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part II) If you request a payment plan online you will receive immediate notification if your agreement is approved. If you request a payment plan by mail, you can reduce the accrual of penalties and interest by making voluntary payments until […]
Read More

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part I)

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part I) An Installment Agreement (or payment plan) with the IRS means that they will allow you to make smaller periodic payments over time if you can’t pay the full amount at once. A setup fee applies to all agreements over […]
Read More

Ways to Pay Your Taxes – Options to pay in full

Ways to Pay Your Taxes – Options to pay in full To minimize interest and penalties, the IRS (and we do, too) recommend paying your taxes in full. However, if you’re unable to pay in full, you can request an Installment Agreement or Offer in Compromise. These payment plans allow you to pay your taxes […]
Read More

How the Low-Income Taxpayer Clinics and license tax professional can help. (Part IV)

How the Low-Income Taxpayer Clinics and license tax professional can help. (Part IV) Low Income Taxpayer Clinics Assistance can be obtained from individuals and organizations that are independent from the IRS. IRS Publication 4134, provides a listing of Low Income Taxpayer Clinic List (LITCs) and is available at www.irs.gov. Also, see the LITC page at […]
Read More

Who do I contact if I need help dealing with the bill from the IRS? (Part III)

Who do I contact if I need help dealing with the bill from the IRS? (Part III) You can find help at the Internal Revenue Service, Taxpayer Advocate Service, Low Income Taxpayer Clinics (if eligible), or/and a license tax professional – Certified Public Accountant, Enrolled Agent, or an Attorney. Internal Revenue Service The IRS web […]
Read More