Tax Problems & Hardships Solution by the Professionals
Not being able to pay taxes can be illegal and can cost you a lot in the long run. We at The Law Offices of Ryan McFarland advise clients to at least notify the rightful representatives (Internal Revenue Service, IRS) and agencies about the situation beforehand to provide a certain allowance of time and in this way, you can strategically plan what to do before the deadline arrives.
San Diego Trusted Tax Lawyers
Installation Agreement (IA). The Law Offices of Ryan McFarland sees the conditions for a request of an Installment Agreement:
- the refusal for the Offer of Compromise
- realistically, paying your taxes at once is a burden and the solution would be to pay it through a monthly portion,
- a lower interest loan has not been granted. In any of these cases, it opens the option of once-a-month payment that covers your interest, penalty, and balance.
Tax Debt Payment Plans and Hardships
Depending on the amount that you have, there are five (5) possible Installation Agreements that you can apply for; all of which you must meet the criteria for. Guaranteed Installation Agreements (GIA) are for the individual debtors that owe a $10,000 or less and have a maximum of three (3) years plus interest and penalties. The other types such as Streamlined Installment Agreements, Financial Installment Agreements, Partial Payment Agreements and Direct Debit IRS Installments assume secondary steps in case not qualified for the GIAs.