There are many reasons that people have and get IRS tax problems. This may be due to business failure, job loss, medical difficulties, divorce, or perhaps some large unexpected bills such as mortgage or college tuition bills.
If you find yourself unable to fully pay your tax liability to the IRS, then you may qualify and apply for the installment agreement. You can hire an expert for tax resolution services to get rid of back taxes.
If you qualify the IRS will allow you to make monthly payments through installment agreement as long as you are not able to pay your tax debt immediately. The monthly payment amount depends on several factors including, the total amount due, your current financial condition and the amount of time remaining for the IRS to collect tax debts.
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However, not everyone will qualify for the installment agreement and there are several factors that should be considered first:
1) You must fit this time and has filed all tax returns.
2) Consider other sources to pay the tax debt, such as a savings or retirement account.
3) Determine the amount of monthly payment you can make it to the IRS.
4) The future tax refunds will be applied to your tax debt until paid in full.
5) You must submit all your future tax and pay the full balance due.
Finally, dealing with the IRS can be overwhelming and very scary. However, a licensed tax resolution specialist will protect you.