Receiving an IRS balance you cannot afford to pay immediately can be frightening.

Fortunately, some taxpayers may qualify for an IRS Installment Agreement, allowing them to pay their tax debt over time rather than paying the entire balance immediately.

At ProTax Advantage, we help taxpayers understand their payment options and determine what approach may be appropriate for their circumstances.

An installment agreement is an arrangement that allows an eligible taxpayer to make payments toward an outstanding federal tax liability over time.

The terms and eligibility requirements vary depending on factors such as:

• Amount owed 
• Filing compliance 
• Income 
• Expenses 
• Assets 
• Ability to pay 
• Taxpayer type 
• Current IRS collection status 

An installment plan doesn't necessarily eliminate the tax debt. It provides a structured way to address the balance.

It may be worth considering if:

• You cannot pay your full balance immediately. 
• You have sufficient income to make regular payments. 
• You want to avoid allowing the balance to remain unresolved. 
• You need a structured approach to repayment. 

However, an installment agreement isn't necessarily the best solution for every taxpayer.

Depending on your financial circumstances, other options may need to be evaluated.

We examine your IRS balance, filing status, notices, and financial information.

We evaluate whether an installment agreement or another resolution strategy may be more appropriate.

When authorized, we communicate with the IRS and assist with the resolution process.

We help you establish a practical path toward addressing your outstanding tax liability.

A tax balance can continue to accrue interest and potentially applicable penalties.

If you can't pay the IRS in full, don't assume that doing nothing is your only option.

Understanding your available choices is the first step.

Eligible taxpayers may be able to establish an installment agreement that allows payments over time.

Generally, interest continues to accrue until the balance is paid in full.

Not necessarily. Each program serves a different purpose and has different eligibility requirements.

Schedule a confidential consultation with Tammy Graham, MSA, EA,  to discuss your IRS balance and potential resolution strategies.