Installment Agreements With The Irs In Harris

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

Description

The Retail Installment Agreement outlines the terms for payment between a seller and a purchaser for a specified purchase price. It details the interest rate charged annually, payment terms, and defines the schedule for monthly installments. A late fee is applicable for any overdue payments, and the seller retains a purchase money security interest in the collateral until paid in full. The agreement also includes provisions for events of default, enabling the seller to take action if the purchaser fails to comply. Additionally, it provides a disclaimer of warranties, outlines the need for written modifications, and stipulates governing laws. This form is particularly useful for attorneys, partners, and legal assistants in guiding clients through compliance with installment agreements, ensuring protection of terms, and advocating for user rights. Such agreements serve both individuals and businesses seeking manageable payment plans, making it essential for legal professionals to understand its nuances for effective representation.
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FAQ

Form 9465 can be included electronically with an e-filed return or paper-filed. When filing a paper return, complete Form 9465, attach it to the front of your client's return before mailing. They should receive a response to the request for installment payments within 30 days.

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

If you mail Form 9465, the IRS will respond to your request typically within 30 days but it may take longer during filing season. Installment agreements by direct debit and payroll deduction enable you to make timely payments automatically and reduce the possibility of default.

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.

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Installment Agreements With The Irs In Harris