Installment Contract Agreement With Irs In Allegheny

State:
Multi-State
County:
Allegheny
Control #:
US-002WG
Format:
Word; 
Rich Text
Instant download

Description

The Installment Contract Agreement with IRS in Allegheny is a formal legal document that facilitates installment payments for debtors facing tax liabilities. Key features include stipulations for total purchase price, interest rates, payment terms, late fees, and provisions for events of default. The form outlines the responsibilities of both the seller and the purchaser, highlighting the security interest in collateral and remedies available to the seller in case of default. For effective usage, attorneys and legal professionals should ensure all blank sections are appropriately filled, and modifications are documented in writing. Common use cases involve individuals or businesses entering payment agreements with the IRS to manage tax debts over time while avoiding immediate penalties. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a structured approach to negotiating and formalizing repayment options, thereby ensuring compliance with legal standards.
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FAQ

You can send Form 9465 with the e-return, but the IRS must still approve the installment agreement form.

If the requested IA is rejected, the running of the collection period is suspended for 30 days. Similarly, if you default on your IA payments and the IRS proposes to terminate the IA, the running of the collection period is suspended for 30 days.

If you don't qualify for an IA through OPA, you may also request an IA by submitting Form 9465, Installment Agreement Request, with the IRS. When you request an IA using the form, generally, you'll receive a response from the IRS within 30 days notifying you of whether the IA request was approved or rejected.

Or: For individual tax returns, call 1-800-829-1040, 7 AM - 7 PM Monday through Friday local time. The wait time to speak with a representative may be long. This option works best for less complex questions.

The IRS considers extravagant expenses as those that include charitable contributions, private school funding and hefty credit card payments. In addition, if you fail to provide accurate information on Form 433-A, Collection Information Statement, you can expect your agreement to be rejected.

About Form 9465, Installment Agreement Request. Internal Revenue Service.

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Installment Contract Agreement With Irs In Allegheny