When you request a payment plan (installment agreement), with certain exceptions, the IRS is generally prohibited from levying and the IRS’s time to collect is suspended or prolonged while an Installment Agreement (IA) is pending.
What happens when I request a payment plan? See Publication 594, The IRS Collection Process PDF. Not paying your taxes when they are due may cause the filing of a Notice of Federal Tax Lien and/or an IRS levy action. If you qualify for a short-term payment plan you will not be liable for a user fee. You should request a payment plan if you believe you will be able to pay your taxes in full within the extended time frame. What is a payment plan?Ī payment plan is an agreement with the IRS to pay the taxes you owe within an extended timeframe. If you can't pay the full amount due, pay as much as you can and visit IRS.gov/payments to consider our online payment options. Avoid accruing additional interest and penalties.It's always in your best interest to pay in full as soon as you can to minimize the additional charges. There's also a penalty for failure to file a tax return, so you should file timely even if you can't pay your balance in full.
If you're not able to pay the tax you owe by your original filing due date, the balance is subject to interest and a monthly late payment penalty. What are the benefits of paying my taxes on time?īy law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes they owe by the deadline. How do I manage my plan to avoid default?.What if I am not eligible or unable to apply or revise a payment plan online?.How do I revise my payment plan online?.What can I change with my payment plan online?.What are the browser requirements of the Online Payment Agreement tool?.Am I eligible to apply online for a payment plan?.How do I check my balance and payment history?.How do I determine if I qualify for Low Income Taxpayer Status?.Am I eligible for a waiver or reimbursement of the user fee?.What happens when I request a payment plan?.What are the benefits of paying my taxes on time?.
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