Yes, you can set up a payment plan with the IRS, and I have attached links to installment agreement with the IRS.
2007-09-10 01:35:29
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answer #1
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answered by Anonymous
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This is from IRS site:
Can I make installment payments on the amount I owe?
Yes. If you cannot pay the full amount due as shown on your return, you can ask to make monthly installment payments. However, you will be charged a one time user fee of $43.00, as well as interest on any tax not paid by its due date, and you can be charged a late payment penalty unless you can show reasonable cause for not paying the tax by the due date (April 16, 2007 for individual income tax returns) even if your request to pay in installments is granted. Before requesting an installment agreement, you should consider less costly alternatives such as a bank loan.
To request an installment agreement send Form 9465, Installment Agreement Request, with your return or call (800) 829-1040. You should receive a response within 30 days.
Mail the completed form to the address listed on your bill. Here is the link:
file:///C:/IRS_2006_2/taxmap/faqs/faq_01-005.htm#TXMP4f6a226a
2007-09-10 17:06:50
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answer #2
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answered by MukatA 6
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If you owe less than $25,000 and can in full within five years, call IRS and they will set up an installment agreement. Opt for having a direct debit to your checking account. It is cheaper. You must also pay all your current taxes as they come due.
2007-09-10 08:01:02
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answer #3
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answered by Anonymous
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Compare the interest rate and fees the IRS will charge for their installment plan to a credit card or other types of loans. You may be better of paying the debt another way.
2007-09-10 20:22:21
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answer #4
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answered by Dee 4
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