What is an installment agreement?

An installment agreement allows you to make a series of monthly payments for a specified period. The IRS offers several monthly payment options, such as:

  • Direct debit from your bank account,
  • Payroll deduction through your employer,
  • Payment by check or money order;
  • Payment through the Electronic Federal Tax Payment System® (EFTPS);
  • Payment by credit card, by phone or online, or
  • Online payment agreement (OPA).

If you decide to join an installment agreement plan, your monthly payment will be based on your ability to pay and should be an amount you can pay each month to avoid noncompliance.

All inquiries, estimates, tax return reviews from previous years, and ITIN applications for you and your family are free. Click here to make an appointment with Zigma Tax Service Today or call 757-454-6120.

 


Category: Self-employment