Got a big tax bill from the IRS? It’s not fun, but it doesn’t have to wreck your finances. At TaxSolve, we can help you explore IRS payment plans — also called installment agreements — that let you break your debt into smaller, manageable monthly payments.

These plans aren’t a guaranteed fix, and qualifying can be tricky, but our friendly tax pros are here to guide you through the options and find the best fit for your situation, so you can tackle that debt without the stress.

Which Payment Plan Might Work for You?

The IRS offers a few types of payment plans, depending on how much you owe and your financial situation:

• Guaranteed Installment Agreement: If your tax bill is $10,000 or less, this is the easiest plan to get. You’ll need to pay it off in three years or less, have filed and paid taxes on time for the past five years, and not be on another IRS payment plan in that time. It’s straightforward, but the requirements are strict.
• Streamlined Installment Agreement: Owe less than $50,000? You might qualify for this one, also called the IRS Fresh Start Program. It gives you up to six years to pay, but you’ll still need a clean tax-filing record.
• Partial Payment Installment Agreement: If you owe more than $50,000 or can’t afford full payments, this plan lets you pay a portion of the debt. It’s tough to qualify for, requires a detailed financial statement, and the IRS may place a federal tax lien on your property to secure the debt. Plus, it could take longer to pay off.

With any plan, you’ll need to make on-time monthly payments, and any tax refunds you’re owed will go straight to your debt. Qualifying isn’t a sure thing, and the paperwork can feel overwhelming. That’s where we come in — our experienced team will work with you to boost your chances and keep things simple. Ready to take control of that tax bill? Contact us for a free consultation today!