There are several different payment plans available to both business and individual taxpayers. The IRS and State authorities have threshold amounts to qualify for certain types of agreements. The IRS also requires financial information to structure certain plans if the tax liability does not meet the threshold requirement.
A few types of agreements require different substantiation, and possibly even a 2 year review. Further, certain expenses may not be allowable. Partial payment plans, seasonal agreements, increases in agreements over time, and balloon payments are all different types of agreements and tax resolutions that may require different substantiation. If the statues are going to fall during the agreement the IRS is a lot stricter when it comes to allowable expenses and the length of the agreement.
Of course, your standard payment arrangement will pay the liability in full over time, or by way of a streamlined or express agreement.
Please get in touch with Kutler immediately and we will be sure to give you the best option to fit your budget and your financial picture. We will be sure to account for any and all statutes and timelines on the account. At Kutler Tax Resolution, we assure you there are tax resolutions suitable to your exact needs.