Get help with an IRS Installment Agreement
One way of getting out of an IRS wage garnishment is to get on an IRS installment agreement. Once your back taxes have been filed and you’re in compliance with the IRS, the IRS will accept an installment agreement from you.
Streamlined Installment Agreements – Methods Of Paying Monthly Installments
You can apply for a streamlined IRS installment agreement if the amount of taxes owed is less than $25,000. You will have to pay off your debts with in 5 years (60 months). If you qualify for a streamlined installment agreement you can select a method of paying monthly installment which you think is most suitable for you.
Methods Of Paying Monthly Installments:
Under the streamlined installment agreement there are 3 methods of paying the monthly installments. You have your choice to select any one out all 3 methods.
- Direct debit
- Payroll deduction
- General
Although you can select any one out the above mentioned 3 methods but direct debit or payroll deduction are the preferred means of payment.
1) Direct Debit:
In direct debit method the monthly installment payment will be directly debited from a checking account. Following are the steps for setting up a direct debit installment agreement:
- You have to complete the FORM 433-D
- A blank check must be attached with the FORM 433-D
- FORM 433-D must be filled with accurate information and your initial has to be on the appropriate line provided on FORM 433-D for direct debit agreements.
2) Payroll Deduction:
Monthly installment payment will be withheld from wages and the employer will forward the payment directly to the IRS. This payment method is basically for wage earner tax payer. Following are the steps for setting up a payroll deduction installment agreement:
- You have to complete the FORM 2159. This form is form payroll deduction agreement.
- Part 1 of FORM 2159 must be signed by both the taxpayer and employer otherwise the agreement will be terminated.
- Next the form will be forward to the examiner for final processing.
3) General Payment:
The 3rd method of paying your monthly installment payment is general payment. Monthly installment payment will be sent via check or money order to the IRS. This method is used when a taxpayer is unable to setup the agreement using direct debit and payroll deduction. FORM 433-D must be completed for setting up general payment installment agreement.
When the IRS has issued an IRS wage garnishment to your employer, there are a few ways to get it released. One is to pay the debt off in full. The others are to get into compliance by filing your back taxes and get on an IRS installment agreement.
If you need back tax help, are dealing with an IRS wage garnishment or would like to have us negotiate a favorable installment agreement with the IRS for you, give us a call at (561) 237-5443 to speak with one of our representatives who can assist you with an IRS installment agreement.
One way of getting out of an IRS wage garnishment is to get on an IRS installment agreement. Once your back taxes have been filed and you’re in compliance with the IRS, the IRS will accept an installment agreement from you.
Streamlined Installment Agreements – Methods Of Paying Monthly Installments
You can apply for a streamlined IRS installment agreement if the amount of taxes owed is less than $25,000. You will have to pay off your debts with in 5 years (60 months). If you qualify for a streamlined installment agreement you can select a method of paying monthly installment which you think is most suitable for you.
Methods Of Paying Monthly Installments:
Under the streamlined installment agreement there are 3 methods of paying the monthly installments. You have your choice to select any one out all 3 methods.
- Direct debit
- Payroll deduction
- General
Although you can select any one out the above mentioned 3 methods but direct debit or payroll deduction are the preferred means of payment.
1) Direct Debit:
In direct debit method the monthly installment payment will be directly debited from a checking account. Following are the steps for setting up a direct debit installment agreement:
- You have to complete the FORM 433-D
- A blank check must be attached with the FORM 433-D
- FORM 433-D must be filled with accurate information and your initial has to be on the appropriate line provided on FORM 433-D for direct debit agreements.
2) Payroll Deduction:
Monthly installment payment will be withheld from wages and the employer will forward the payment directly to the IRS. This payment method is basically for wage earner tax payer. Following are the steps for setting up a payroll deduction installment agreement:
- You have to complete the FORM 2159. This form is form payroll deduction agreement.
- Part 1 of FORM 2159 must be signed by both the taxpayer and employer otherwise the agreement will be terminated.
- Next the form will be forward to the examiner for final processing.
3) General Payment:
3rd method of paying monthly installment payment is general payment. Monthly installment payment will be sent via check or money order to the IRS. This method is used when a taxpayer is unable to setup the agreement using direct debit and payroll deduction. FORM 433-D must be completed for setting up general payment installment agreement.
When the IRS has issued an IRS wage garnishment to your employer, there are a few ways to get it released. One is to pay the debt off in full. The others are to get into compliance by filing your back taxes and get on an IRS installment agreement.
If you need back tax help, are dealing with an IRS wage garnishment or would like to have us negotiate a favorable installment agreement with the IRS for you, give us a call at (561) 237-5443 to speak with one of our representatives who can assist you with an IRS installment agreement.
