IRS Agreed To An Installment Agreement Of $1000 For A Tax Liability Exceeding $480,000
December 2024
When the taxpayer initially engaged our office, they faced a significant tax liability exceeding over $480,000 to the IRS. After a detailed assessment of the client's financial circumstances to determine their ability to make regular payments and negotiating with the IRS, our firm successfully negotiated an Installment Agreement with the IRS allowing the taxpayer to pay the IRS only $1000 a month until the tax liability expires. Federal Taxes have a statute of limitation of 10 years ( some instances, this statute can be extended). The taxpayer will ultimately not pay the whole tax liability within the statute of limitations as the payment plan is not a full pay payment plan. Thus, resulting the taxpayer in settling their tax liability for less than the total amount. This strategic approach provided our client with immediate relief from IRS collection actions and a sustainable payment plan tailored to their financial capabilities.
Reliable Tax Attorney is a Maryland Tax Attorney with offices in Annapolis, Frederick, Rockville, Columbia, and Baltimore MD. Our office represents clients nationwide before the IRS and various tax agencies. For more information on how our office can assist you with your tax problems, please call 410-358-1300 or submit a form to our office.
Practice area(s): Tax