Tax Office in Houston for your Installment Agreement Services
When you need back taxes help or simply filing your income tax returns, Green Tree tax office in Houston, is the name to trust.
The IRS grants taxpayers the choice to pay their tax liability. If you cannot fully pay your debt, installment agreement could be a perfect solution. The IRS is well-driven to collect tax debt as soon as possible. When its time to file taxes and you don’t have the money there are some choices. So, the biggerst option is an installment agreement. For this situation you pay as much as you can every month, which is similar to payment plans.
The IRS is responsible to determine whether your income applies to your tax responsibility.
Mostly, you will get a response from the IRS in the mail. If you do not know how to do the whole process, you do not need to worry. After all, we are qualified people whom you can count on when it comes to income tax return. Therefore, you will have a comfortable and convenient experience you will enjoy.
Installment Agreement Fees
By choosing an installment agreement, there is an innitiation fee. However, it depends on the types of agreement you will choose such as direct and non-direct debit. When you have an income below poverty, you will be qualified to pay for $43. When you belong to the upper class of the society, you will pay more. In other words, you will be asked to pay higher fees once you acquire more revenues monthly.
The IRS will give you an installment agreement once you meet the requirements given below:
- If you have a tax liability less than $10, 000 without the interest and other penalties.
- In the previous five years, you must have been paying and filing your tax returns. For have the last five years, you must not have experienced an installment agreement.
- If you will apply for it, you have to fully pay your tax liability in three years.
- When the IRS request financial records, you have to submit all of them. They can verify if you have the ability to pay your tax responsibility in full without an installment agreement.
Steps in applying for an installment agreement
When you have a IRS Tax Problems less than $50, 000, there are a variety of ways that will allow you to apply for the installment. Nevertheless, you have to remember that you cannot apply when your account is in the collection process. If you have a tax liability less than 25, 000, you have to fill out the Form 9465 including your tax returns.
When your tax responsibility is between $25, 000 and $50, 000, you have to use the Form 9465-FS with your previous tax returns. The two forms are different from each other. Because the latter will help you show your ability to pay per agreement on a monthly basis.
Whenever, you have questions about an installment agreement, you can count on Green Tree Tax as we can reliably and effectively support you. We can help you become aware of the most appropriate action to take. With many tax filing options such as Corporate tax preparation, Partnership tax, LLC tax help, we can be your one stop shop. Get the tax help in Houston, when you need.