Overhaul of IRS Installment Agreements

Overhaul of IRS Installment Agreements

Posted By: Jennifer O'Neill // Sep 19, 2016

Some possible good news regarding expansion of IRS Installment Agreements:

We have at least verbal confirmation that IRS is overhauling its Installment Agreement program, creating two buckets (expedited IA for balances up to $50k and expanded IA for balances between $50k and $100k). The changes look taxpayer friendly and as far as we can determine include an 84 month (or Statute of Limitations, whichever is shorter) repayment period for IAs over $50k and a limited (or "express") compliance check for IAs under $50k. There may be a formal announcement perhaps as soon as the end of next week.

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