WHAT IS A PAYMENT PLAN?

WHAT IS A PAYMENT PLAN?
A payment plan is an agreement with the IRS to pay the taxes you owe within an
extended timeframe. You should request a payment plan if you believe you will be able
to pay your taxes in full within the extended time frame. If you qualify for a short-term
payment plan you will not be liable for a user fee. Not paying your taxes when they are
due may cause the filing of a  Notice of Federal Tax Lien  and/or an  IRS levy action .

See  Publication 594, The IRS Collection Process PDF.
(IRS Web Site Updated 08/25/22) (TTT 09/27/22)