IRS And State Payment Plan Options - Part 1: The Installment Agreement

Part 1 of a 2-Part Series

In an earlier blog post, we discussed options available to taxpayers facing a tax balance with either the Internal Revenue Service (IRS) or one of the states. These options can be very confusing and difficult to understand for a taxpayer attempting to sort through which option is right for them based on their own unique circumstances.

This two-part series will describe in detail the two most common collection alternatives used by the IRS and the states when resolving taxpayers' outstanding tax debts. In the first part of this series, we will discuss installment agreements and the various forms installment agreements can take to allow taxpayers to pay down their tax debts over time.