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  • Writer's pictureSean Sadeghi CPA, EA,

Los Angeles Tax Problem Resolution: Partial Payment Installment Agreement

f you owe back taxes to the IRS, you may be struggling to find a way to pay the debt. The good news is that the IRS offers a number of payment options, including a partial payment installment agreement. In this blog, we will discuss what a partial payment installment agreement is and how it can help you resolve your IRS tax problems.


A partial payment installment agreement is a payment plan that allows taxpayers to pay back their tax debt in monthly installments over an extended period of time. With a partial payment installment agreement, the taxpayer pays a portion of the debt each month, and the remaining balance is eventually forgiven by the IRS.


The amount of the monthly payment is determined by the taxpayer's financial situation, including their income and expenses. The goal of a partial payment installment agreement is to allow the taxpayer to pay back their debt over time while still being able to cover their living expenses.


One advantage of a partial payment installment agreement is that it can help prevent the IRS from taking enforcement action to collect the debt, such as garnishing wages or levying bank accounts. Once the agreement is in place, the taxpayer is protected from further collection efforts by the IRS.


It is important to note that a partial payment installment agreement is not a permanent solution to IRS tax problems. The taxpayer remains responsible for paying the debt in full, and interest and penalties will continue to accrue on the debt until it is paid in full.


If you are facing IRS tax problems and are unable to pay your debt in full, a partial payment installment agreement may be a good option for you. To apply for a partial payment installment agreement, you will need to complete a financial statement and provide the IRS with information about your income, expenses, and assets.


In conclusion, a partial payment installment agreement can be a helpful solution for taxpayers who are struggling to pay their back taxes. With this agreement, taxpayers can pay back their debt over time and avoid enforcement action by the IRS. If you are facing IRS tax problems, consider working with a tax professional to determine if a partial payment installment agreement is the right option for you.

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