TAX PROFESSIONALS, WE HEARD YOU! MORE FLEXIBLE INSTALLMENT AGREEMENTS ARE HERE TO STAY!
Darren John Guillot• Deputy Commissioner,
Small Business/Self Employed Division, Collections & Operations Support
During the pandemic, IRS piloted more flexible installment agreements to help taxpayers. Specifically, individuals and out of business sole proprietors who owe $250,000 or less can opt to establish a payment plan that satisfies the liability within the life of the Collection statute - with no financial statement required. This flexibility is available only when working with Campus Collection, and allows taxpayers to set their own monthly payment amount and resolve their tax debt in a timeframe that works for them, but within the statutory period. The key is to be proactive and resolve your tax balance early - before enforcement and/or assignment to the Field. A Notice of Federal Tax Lien determination is still required. After 2 years of piloting, we learned taxpayers and tax pros really liked this policy and the results have been favorable. So, we recently decided to make this new flexibility a permanent option. Thank you all for your feedback and suggestions making payment of taxes easier and helping us provide a better experience for America's taxpayers!