How Partial Payment Installment Agreements Work
If you owe the IRS and cannot pay your full tax bill, you may be able to set up a partial payment installment agreement. This type of agreement allows you to make smaller payments over time.
To qualify for a partial payment installment agreement, you must:
-Owe $50,000 or less in combined tax, interest, and penalties
-Have filed all required tax returns
-Have made all required estimated tax payments for the current year
-Not currently be in an active bankruptcy proceeding
If you meet these qualifications, you can set up a partial payment installment agreement by completing form 9465 and submitting it to the IRS.
Under a partial payment installment agreement, you will make monthly payments until your debt is paid off. The amount you pay each month will be based on your income, expenses, and assets.
The Law Offices of Omar Zambrano has helped thousands of people and them businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706