Installment Agreement
 | This article's tone or style may not reflect the encyclopedic tone used on Wikipedia. (July 2019) |
An Instalment Agreement is a United States Internal Revenue Service (IRS) program that allows individuals to pay tax debt in monthly payments.
There IRS has several different kinds of Instalment Agreements; Guaranteed, Streamline, Partial and Full Pay. There are a number of requirements that have to be met before an instalment agreement can be granted to a tax payer.[1]
Requirements[edit]
- Has to file all minimum required tax returns.
- Must owe $50,000 or less.
- Monthly payment cannot be less than $25 a month.[2]
- Keep a check on future refunds that can applied for tax refunds until tax debt is paid in full.[3]
References[edit]
- ^ "IRS Installment Agreement – It's In The Numbers". Open Tax advocates. July 28, 2021.
- ^ Payment Plans, Installment Agreements by IRS
- ^ "Pros and Cons of IRS Installment Agreements | IRS Payment Plan". 24 May 2018.
 | This tax-related article is a stub. You can help Wikipedia by expanding it. |