Do you owe more money to the IRS than you can afford to pay?  If so, our team of tax attorneys can help you get back on your feet by negotiating an IRS payment plan. Using an IRS payment plan to pay off your tax debts is not ideal since you end up paying more in penalties, fees, and interest than you would if you could pay off your taxes in a lump sum. However, it may be your only option for getting out of tax debt.

To settle tax debt, the Internal Revenue Service offers a few different payment plan options. They do this because getting what they are owed in installments is better for them than not getting your tax payments at all. These plans are also beneficial to you because they give you guidelines for paying off your debt on time.

IRS Payment Plan Arrangements
You can make sure that your IRS payment arrangements are as fair as possible by working with a knowledgeable tax lawyer at KEL. Hiring an attorney who understands federal tax law is a wise decision that can result in the creation of an IRS payment plan that is in-line with your budget and finances.

Negotiating IRS payment plans begins with providing the IRS with a complete picture of your finances. When you work with our legal team, we will help you compile all your financial information so that it is complete and accurate. Once the IRS has this information, our tax lawyers will propose a realistic payment plan. The IRS is most likely to accept your proposed payment plan if it allows for repayment of your debts in the shortest amount of time possible. This is accomplished by making payments equal to or sometimes greater than your total monthly disposable income.

Your disposable income is considered everything that is left over after your living necessities are paid for.  The faster you are able to pay off your tax debts, the less you will owe. This is because interest on your late taxes continues to accrue even as you make payments on your debt. If you are trying to create a payment plan with the IRS, having a lawyer on your side can help protect you from missing procedural or legal deadlines in your process.

Are you finding it difficult to come up with the money to pay off your tax debt? Are you ineligible for an offer in compromise? Working with KEL to reach an IRS payment plan may be an excellent solution for you.  To get the information you need to understand payment plans, call our office today at 888-238-2686 to schedule a free consultation. By establishing an IRS payment plan, you can repay your tax debt in smaller, more manageable monthly amounts.