Installment Agreements With The Irs In Pennsylvania

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

Description

The document is a Retail Installment Agreement intended for use in Pennsylvania and outlines the terms for installment payments on a purchase. Key features include a specified purchase price and interest rate, wherein interest is charged at a defined simple percentage per annum. It requires monthly payments to be made by the purchaser over a defined number of installments, with the first payment due on a set date. Late fees may apply for overdue payments, and the seller retains a purchase money security interest in the purchased item as collateral. In the event of default, the seller has the right to accelerate payments and take possession of the collateral. The form emphasizes that there are no express warranties provided by the seller and any modifications must be documented in writing. This agreement may serve attorneys, partners, owners, associates, paralegals, and legal assistants in structuring payment plans for clients while ensuring compliance with state laws and protecting their interests.
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FAQ

You will need to create an IRS Online Account, and then you can apply for a payment plan online without needing to call, mail, or visit the IRS. You will need a photo identification to create your account. If you are applying for a direct debit payment plan, you will need your bank routing and account numbers.

You may qualify to apply online if: Long-term payment plan (installment agreement): You owe $50,000 or less in combined tax, penalties and interest. You have filed all required returns. Short-term payment plan: You owe less than $100,000 in combined tax, penalties and interest.

Tax forgiveness is a credit that allows eligible taxpayers to reduce all or part of their Pennsylvania personal income tax liability.

If a taxpayer has been approved an extension of time to file his/her federal income tax return and does not owe PA income tax with the state return, the Department will grant the same extension for filing the PA tax return. Such taxpayers do not have to submit PA Form REV-276 or federal Form 4868.

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.

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Installment Agreements With The Irs In Pennsylvania