5 TYPES OF IRS INSTALLMENT AGREEMENT
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Ongoing, First published Apr 07, 2021
The IRS allows installment payment plans to taxpayers for their tax debt settlement whose tax liability is too substantial for a particular payment. Under this program, taxpayers can cover their costs over many months to get the bill more flexible. If taxpayers don't pay such payments on time, the IRS might seize their homes, put liens on their assets, and even garnish their wages. After establishing a repayment plan, the IRS will impose on the taxpayer some additional fees. Taxpayers who pass for a short-term repayment plan are not expected to pay such a price. Proceeding on the subject, let's look at five examples of IRS installment agreements possible for taxpayers with exceptional IRS debt.
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