Internal Revenue Service Installment Agreement Phone Number
Are you struggling to pay your taxes to the Internal Revenue Service (IRS)? Don`t worry; you`re not alone. Fortunately, the IRS offers installment agreements to help you pay off your tax debt over time, instead of all at once.
To set up an installment agreement with the IRS, you will need to contact them by phone or online. If you prefer to speak with someone over the phone, you can call the IRS installment agreement phone number at 1-800-829-1040.
Before calling, be sure to have all of your tax information handy, including your social security number, tax year(s) owed, and the amount you owe. You may also need to provide financial information such as your income and expenses.
It`s important to note that setting up an installment agreement will not eliminate any penalties or interest that have accrued on your tax debt. However, it can help you avoid more severe collection actions such as wage garnishment or bank levies.
When setting up an installment agreement, you`ll need to choose the amount you can afford to pay each month. This amount should be based on your monthly income and expenses. If you`re having trouble determining a reasonable monthly payment, you can work with a tax professional or seek assistance from a low-income taxpayer clinic.
Once your installment agreement is in place, it`s crucial to make all payments on time. Late or missed payments could result in default and more severe collection actions.
In conclusion, if you`re struggling to pay your taxes, the IRS installment agreement program can be an excellent option for getting back on track. By calling the IRS installment agreement phone number at 1-800-829-1040 and working with them to set up a payment plan, you can avoid more severe collection actions and pay off your tax debt over time. Just remember to make all payments on time and seek assistance if needed.