IRS Installment Plans
If you fall behind your income tax payments, the IRS may allow your to set up an installment plan. In an IRS installment plan, the IRS will measure out an reasonable and appropriate amount for you to pay per month, and requires you to pay it. This is a viable option for many individuals who cannot pay their tax debt immediately.
Start with a Financial Statement
To apply for an IRS installment plan, you must provide a financial statement (form 433) to the IRS. There are different forms for different levels of tax debt. In these forms, you must provide your last three months of checks, charges, and receipts. Both the form and the specific instruction are available from the IRS website. Although you can complete this form on your own, John McDuff can counsel you with respect to how you present the facts, so that you are granted a lower monthly payment.
The IRS will calculate your income, and deduct the allowable amount of your living expenses. To view their standard allowances for some categories of expenses, visit http://www.irs.gov/Individuals/Collection-Financial-Standards. The Law Office of John McDuff, P.C. works to maximize the allowable amount of your living expenses, so that your monthly payment is lower.
Contact Austin Tax Lawyer, John McDuff
As a client of John McDuff, you will not have to deal with the IRS directly. John will take over all necessary communications on your behalf before the IRS. Many agents and staff members of the IRS know John McDuff by name due to past contracts and/or by means of his reputation. He is well-experienced in tax collection, with over 20 years of experience negotiating with the IRS under his belt.
The Law Office of John McDuff, P.C. represents clients in Austin, Travis County, and Central Texas. If you would like to discuss your case with us, please contact our law firm at 512-457-1177, or contact us online.