Welcome Guest. Register Now!  


For 2013 Tax Tips For Year 2013.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 05-27-2013, 07:49 AM
Junior Member
 
Join Date: May 2013
Posts: 8
Request An Installment Plan

How to request for an Installment Plan to file tax returns.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 05-27-2013, 11:42 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,230
Quote:
Originally Posted by angelaashworth View Post
How to request for an Installment Plan to file tax returns.
The IRC states,” you can make monthly payments through an installment agreement if you're not financially able to pay your tax debt immediately. However, you will reduce or eliminate the amount of penalties and interest you pay and avoid the fee associated with setting up an installment agreement if you pay your tax bill in full. Before you apply:File all required tax returns; Consider other sources (loan or credit card) to pay your tax debt in full to save money; Determine the largest monthly payment you can make ($25 minimum); and Know that your future refunds will be applied to your tax debt until it is paid in full.” You can request an installment agreement over the phone. Simply call the IRS at 1-800-829-1040. They will set up a payment plan over the phone and send you some paperwork to fill out. The IRS must agree to accept your installment agreement if you meet certain criteria: your total tax does not exceed $10K and the monthly payments will pay your tax debt in full within 3 years. The IRS will not approve your installment agreement if you have not yet filed all your tax returns. You will need to file all your back taxes before requesting a monthly payment plan.
You can apply online if you owe $50K or less in combined individual income tax, penalties and interest; you need to call the phone number on your bill or notice;
Complete and mail Form 9465. If you owe more than $50K, you will also need to complete Form 433-F. To keep your account in good standing, you need to pay at least your minimum monthly payment when it's due (direct debit or payroll deductions make this easy); Include your name, address, SSN, daytime phone number, tax year and return type on your payment; File all required tax returns on time; Pay all taxes you owe in full and on time (contact us to change your existing agreement if you cannot); continue to make all scheduled payments even if they apply your refund to your account balance. The IRS will respond to your request in about 30 days.
You can contact the IRS/Dept of Rev of your state for more info in detail.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 05-29-2013, 07:09 AM
Junior Member
 
Join Date: Apr 2013
Posts: 21
Thumbs up Reply

Setting up a monthly payment plan with the Internal Revenue Service is fairly easy. Either you or your tax professional can set up an installment agreement quickly either over the phone, by filling out some paperwork, or by using the Online Payment Agreement web application. There are four types of installment agreements. Each installment has their own terms and condition. First you have to choose installment agreement and then fill out Form 9465, Installment Agreement Request or use the Online Payment Agreement Application on the IRS Web site to set up a payment plan. An expert New York tax attorney will help you to select your agreement. You can contact the Goldburd McCone LLP from New York. You can get in touch with them from 42 W 38th Street Suite 901 or call (212) 302-9400


Last edited by josehill : 05-29-2013 at 07:12 AM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fee for installment payments? istioploa7 For 2012 0 12-05-2012 12:38 PM
What requirements have to be met to use an Installment Method of reporting? TaxGuru Capital Gains 0 01-05-2009 12:45 PM
How does a C corporation file an extension request? Roberto C-Corporation 1 03-14-2007 01:16 PM
What is the due date for filing the C Corporation Extention request? katlee C-Corporation 1 02-25-2007 05:52 PM
How does one file an extension request for a C-Corporation? andri C-Corporation 1 02-22-2007 10:27 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning