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Tax Settlement & Payment Plans

Tax-Settlement-&-Payment-Plans

You can pay off your tax debt gradually in monthly installments if the IRS agrees on a payment plan.

The IRS is practical—they know they cannot collect money that doesn’t exist. An installment plan is the easiest way for the IRS to collect all the money you owe them; and they can also collect interest and penalties on past due amounts when you pay over time. And you can become free of your tax debt.

There are two types of installment plans-formal and informal. An informal agreement provides that you will pay the entire balance you owe the IRS within two years and that the taxpayer can specify where the payments are applied. A formal agreement is a written agreement; and you, the taxpayer, agree to make monthly payments for a specific amount for a specific period of time with the IRS allocating the payments against your tax debt.

It is possible to get your payment plan lowered if your representative believes your payment amount is too high. This is done through the  collection employee’s manager. If your representative is not able to resolve the issue and get your payment lowered through the collection employee’s manager, he can appeal the matter to the IRS appeals office.

Protaxion’s goal is to set up a payment option that works for you. Call us today for a free consultation.

Call +1 833-776-8291 or Click HERE!

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Having a team of dedicated tax professionals on your side is a powerful position to be in when managing a tax matter with the IRS, and we look forward to helping to put you in a winning position to succeed.

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