Owing money to the IRS is common for almost every working individual in the US.  However, a lot of these affected individuals are not aware of the payment options available to them. The IRS has set up tax payment options that can be applied for people in different financial situations. This is established through a payment plan, which is often an agreement between the IRS and the individual in tax debt to pay the amount of tax owed within a particular lengthened time frame.

Depending on the amount owed and the individual’s ability to pay the sum total to the Internal Revenue Service, one can either opt for either a full payment agreement or an installment agreement. There are rules and regulations that govern and help determine which payment plan an individual should go for. This article elaborates on the types of Internal Revenue Service tax installment agreements that would assist indebted tax payers to pay their taxes more conveniently.
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