IRS Installment Agreements

An installment agreement may be requested if you cannot pay the liability in full. This is an agreement between you and the IRS for the collection of the amount due in monthly installment payments. To be eligible for an installment agreement you must first file all returns that are required and be current with estimated tax payments. If you are an employer, you must be current with your federal tax deposits. If you owe $25,000 or less in combined tax, penalties, and interest, you can request an installment agreement by completing IRS Form 9465, Installment Agreement Request, along with your bill in the envelope that you have received from the IRS. The IRS will inform you within 30 days whether your request is approved, denied, or if additional information is needed. You may still qualify for an installment agreement if you owe more than $25,000, but a Form 433F, Collection Information Statement, may need to be completed. Please see below an actual IRS Installment Agreement. This example represents an IRS installment agreement payment of $25.00 per month on a balance of 26,458.69.