Skip to content An installment agreement serves as a viable tax resolution alternative for individuals who do not qualify for an Offer In Compromise. This solution enables taxpayers to settle their entire debt by making monthly payments over a specified period.
Depending on your financial circumstances, you may qualify for a 'Partial Pay' Installment Agreement.
When your account is designated as “Currently Not Collectible” (CNC), the IRS acknowledges your financial constraints and refrains from pursuing collection efforts or seizing your assets and income.
To determine eligibility, the IRS requires financial substantiation, including a detailed statement of your income and expenses. Based on this information, the IRS assesses whether a reduction in your total tax debt is possible.
The remaining debt is then paid through manageable monthly installments. Alternatively, the IRS may place your account under a "Currently Not Collectible" status, acknowledging your inability to cover both taxes and reasonable living expenses. During this status, the IRS refrains from collection attempts or asset levies.
The IRS considers your ability to pay, income, expenses, and asset equity to determine if the offered amount is the most they can expect to collect within a reasonable time.
At IRSProb.com, we specialize in handling Installment Agreement requests. Whether you’re seeking to initiate a new agreement or facing challenges in fulfilling an existing one, our experts are here to guide you through the process and find the best resolution for your unique situation.
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