Chicago: Should You Consider An IRS Installment Agreement as a Solution to Your IRS Tax Problem?
Tax Payment Options Chicago: IRS Installment Agreement
Should you consider an installment agreement as a solution to your IRS tax problem? You have several options for dealing with the tax problem with the IRS; an installment agreement is one of them. An installment agreement is just what it sounds like – you agree to pay your tax debt to the IRS in a monthly payment plan.
There are some restrictions on the installment agreements. But, many times this is a good option for both businesses and individuals who owe taxes to the government.
There is a downside though. If you owe a lot of taxes, the required payments on your installment plan can often be quite high, and can interfere with paying your monthly bills. In addition, you may still be subject to interest and penalties on the debt that you owe.
The good news is, it is possible to negotiate lower payments with the IRS. To discover more about this options and other strategies on how you can break free from the IRS and reclaim your life, call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now!