Installment agreements for tax due greater than $100,000

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  • taxdude71
    Senior Member
    • Jan 2007
    • 132
    #1

    Installment agreements for tax due greater than $100,000

    Anyone had any expierence with this? What's the best way to go about it?
    Tags: None
    • DaveO
      Senior Member
      • Dec 2005
      • 1453
      #2
      I’ve had a few. Can your client pay the balance within 5 years or will it be a partial pay installment agreement? Either way the procedure is similar to an OIC. You will need to submit a 433-a, and 433-b, if applicable and establish what the taxpayer can pay on a monthly basis. If they will full pay in 60 months it should go pretty smooth. If not, you will have to document more and possibly re-verify on an annual basis. Is an OIC out of the question?
      In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
      Alexis de Tocqueville

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