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What if I am not eligible or unable to apply or revise a payment plan online? Individuals can complete Form 9465, Installment Agreement Request. ... If you prefer to apply by phone, call 800-829-1040 (individual) or 800-829-4933 (business), or the phone number on your bill or notice.
A payment plan is an agreement with the IRS to pay the taxes you owe within an extended timeframe. You should request a payment plan if you believe you will be able to pay your taxes in full within the extended time frame.
The IRS sends notices and letters for the following reasons: You have a balance due. You are due a larger or smaller refund. We have a question about your tax return.
You don't want to pay the cost of doing nothing If you don't get back into good standing with the IRS in 90 days, the IRS may start enforced collection on your tax bill. You'll probably get a lien, if you owe more than $10,000. The IRS may also levy your funds from your employer(s), financial institutions, and others.
If you can't pay your tax bill in 90 days and want to get on a payment plan, you can apply for an installment agreement. It may take up to 60 days to process your request. Typically, you will have up to 12 months to pay off your balance.
Contact the IRS right away to see if you can reinstate your agreement. You may have to pay a fee to reinstate it or you may have to pay any new tax liability in full. Read your notice carefully ? it explains what to do now that you have defaulted on your installment agreement.
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. An assigned IRS employee may also contact you and request financial records to verify the amount you've requested to pay.
The IRS sent Letter 2840C to notify you that an installment agreement has been set up, and show you the payment amount, due date, and payment address. This notice also includes instructions on how to make out your checks to ensure proper credit.