{"id":10173,"date":"2024-12-24T15:39:05","date_gmt":"2024-12-24T20:39:05","guid":{"rendered":"https:\/\/www.jdavidtaxlaw.com\/?p=10173"},"modified":"2024-12-24T15:39:05","modified_gmt":"2024-12-24T20:39:05","slug":"everything-you-need-to-know-about-how-to-setup-a-payment-plan-with-the-irs","status":"publish","type":"post","link":"https:\/\/www.jdavidtaxlaw.com\/blog\/everything-you-need-to-know-about-how-to-setup-a-payment-plan-with-the-irs\/","title":{"rendered":"Everything You Need to Know About How to Setup a Payment Plan with the IRS"},"content":{"rendered":"\t\t
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If you owe back taxes to the IRS and are unable to pay the full amount upfront, you might be feeling overwhelmed and unsure of what to do next. Fortunately, the IRS payment plan also known as an IRS installment agreement\u2014provides a practical solution for taxpayers to manage their debt. By enrolling in a payment plan, you can settle your tax liability over time through manageable monthly payments, avoiding harsher consequences like wage garnishments or tax liens.<\/span><\/p>

In this blog, we’ll walk you through <\/span>everything you need to know about how to set up a payment plan with the IRS<\/span>, the different options available, and why working with a tax attorney may make the process smoother and less stressful.<\/span><\/p>

What Is an IRS Payment Plan?<\/span><\/h2>

An <\/span>IRS payment plan<\/span> allows taxpayers who owe the IRS more than they can pay immediately to break down their debt into smaller, monthly installments. Instead of facing penalties or more aggressive collection actions, such as IRS levies or wage garnishments, a <\/span>payment plan for IRS<\/span> helps ease the financial burden.<\/span><\/p>

There are several types of IRS payment plans, each designed to accommodate different levels of tax debt and financial situations:<\/span><\/p>