Answer: This is what is referred to as a monthly Installment Agreement Payment Plan for your tax debt. The IRS has several debt settlement options but it’s important to act before they garnish your paycheck and/or levy your bank account.
There are several types of Installment Agreements. One of them, is called the “Partial Pay Installment Agreement” (PPIA) where it’s possible to settle your outstanding balance owed the IRS for less. It’s based on your monthly disposable income and how much time remains on the 10-year collection statute expiration date. The IRS can only collect on a debt for 10 years, so the older your IRS tax debt is, the more likely you may be able to qualify for a PPIA. There are strict eligibility requirements that must be met, so the first step is to call us to see if you qualify.
We navigate the IRS maze for a living and know the “ins and outs” of the law. That’s what we do every day. As a matter of fact, once we’re retained, you’ll never have to meet or speak with the IRS. We take care of all of that because we know that the worst thing you can do is represent yourself. That’s like going to court without a lawyer. In the eyes of the IRS, you are guilty until proven innocent