Ask Tax Question

I have an existing installment agreement with the IRS and I need to adjust the payments. What is the best way to go about this?

I have an existing installment agreement with the IRS and my income has gone down over the last year. Can you tell me the best way to reduce my monthly payment.
IRS installment plan
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Barry Fowler
You can call the IRS and be prepared with a 433F filled out and ready to submit to the IRS. Make sure you have your support available if they ask for it. There are other options as well available to you such as a Offer in Compromise, Not Collectable status and partial pay installment agreements. Make sure you look at all your options.
Leave a Comment 178 weeks ago

User Photo
Anne Go
I need help with this too! Thanks for sharing the info Barry. BTW, if anyone needs to fill out a “433F Form”, I found a blank form here:
Reply 156 weeks ago

Meet Leading Tax Advisors

User Photo John Stancil

Lakeland, Florida, USA

Tax Advisor/CEO

User Photo Peter J. Scalise

New York, New York, USA

Federal Tax Credits & Incentives Practice Leader

User Photo John Dundon, II EA

Denver, Colorado, USA

Tax Director


View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page



Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today