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Everything You Wanted To Know About Installment Payment Plans, But Wished You Did Not Need To Ask

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If you’re financially unable to pay your tax debt immediately, you can make monthly payments through an installment agreement. As long as you pay your tax debt in full, you can reduce or eliminate your payment of penalties or interest, and avoid the fee associated with setting up the agreement.

Before applying for any payment agreement, you must file all required tax returns.

You may be eligible to apply for a streamline payment agreement if:

• Individuals must owe $50,000 or less in combined individual income tax, penalties and interest, and have filed all required returns. Read more