One option for taxpayers is the ability to pay out their assets through a number of monthly payments. It is called the payment plan, but it is also called the instalment payment contract. With a payment plan, you usually pay more in the long run due to interest and penalties. The payment period is 24 months for payment agreements with in-business temperatures. If you qualify, you do not have to submit annual accounts. The IRS does not have to file a deposit, when it can still do so. Finally, if you qualify, you can avoid the Trust Fund Recovery Penalty as part of an explicit instalment payment agreement for the trust fund in the company. If you`d like to learn more about IRS instalment payment agreements, give me a call or fill out a contact form. Even if you don`t qualify for a guaranteed instalment payment agreement, you can still request a streamlined agreement.
Negotiations broke down after the treasurer asked for nearly $17,000 a month for the instalment payment agreement. . . .