Installment agreements are arrangements with the IRS to let a taxpayer pay his or her full tax liability over a period of time. A monthly payment is negotiated between the IRS and the taxpayer for a specific length of time. In the Chicago area, if you need to make an arrangement with the IRS to pay your tax liability in installments, speak right away with an experienced Chicago IRS tax payment options attorney at the Bentz Holguin Law Firm. We can determine if you are eligible for installment payments, and if so, we can negotiate the agreement with the IRS on your behalf.
Types Of Installment Agreements
The IRS offers three types of installment agreements: regular, streamlined, and partial payment agreements. With a regular installment agreement, the IRS will require financial documentation to determine your ability to pay under an installment agreement. A streamlined installment agreement may be an option if your tax liability is small enough. With a streamlined agreement, the IRS may not require financial statements. A good Chicago IRS tax payment options lawyer can negotiate a streamlined installment agreement for up to five years. A third possibility is a partial payment installment agreement. In a partial payment installment agreement you pay less than what you owe, just like an Offer in Compromise, but over time. If you comply with all terms and conditions or your installment agreement, the IRS takes no further action against you.
Schedule A Free Consultation
The experienced lawyers at the Bentz Holguin Law Firm will handle your installment agreement personally; we won’t hand you off to an assistant, and we never let you become just another case number. Our Chicago IRS tax payment options attorneys maintain the highest professional standards; provides quality legal services at a reasonable cost; and works with all parties involved to bring your tax situation to its best possible resolution. Contact the Bentz Holguin Law Firm today and schedule a free consultation online or call 312-647-2116.