Naples & Fort Myers Installment Agreement Attorney

What is an IRS installment agreement? An installment agreement is a payment arrangement in which the IRS allows you, the taxpayer, to pay your tax debt over a period of time through monthly payments, since you are unable to pay the debt all at once.

Once there is a payment plan in place, the IRS will no longer go after garnishing or seizing your bank accounts or wages; however, you are still subject to penalties and interest until you pay off the entire balance. Before this payment plan begins, you must be up-to-date with all prior tax returns. During this time, a tax lien may be filed as part of the installment agreement, which is situational.

A Naples tax relief attorney like Todd D. Babbitt can help you negotiate an installment agreement that is reasonable and manageable with your current financial situation, so you are able to pay it monthly without issues. You do not want to default on your installment agreement as the IRS can start collecting and seizing money and assets from you again.

If you are unable to pay monthly and do not qualify for any other type of relief like an Offer in Compromise (OIC), attorney Todd D. Babbitt can work to get you placed in a Currently Not Collectible (CNC) status, which gives you the opportunity to not make payments until your financial situation improves.

Attorney Todd D. Babbitt can let you know if you qualify for an installment agreement and how they work.

Naples and Fort Myers tax relief attorney Todd D. Babbitt can help you find a cost-effective way for you to pay off your tax debt. Call him today to get a free consultation to see if you are eligible for an installment agreement to pay off your debt over time.