If you’re worried about how to pay your dues to the Internal Revenue Service (IRS), you’ll want to review all your options. A good choice would be to make monthly payments through an installment agreement. This would help reduce or eliminate penalties and interest fees and your wallet won’t take such a big blow.
In order to qualify, the IRS requires that you file all required tax returns prior to applying. You may be eligible for an online payment plan if you owe $50,000 or less in combined individual income tax, penalties and interest or if your business owes $25,000 or less in payroll taxes.
The trickiest part of this agreement is getting approved – IRS Audit Group can help you understand the process and will stay on top of deadlines. Negotiating with the IRS is easier with the help of a tax professional who will represent you and is willing to speak effectively on your behalf.