Save Thousands Using Proven IRS Payment Plan Guidance
Types of IRS Payment Plans
The IRS provides several options for payment plans, each tailored to different financial situations:
- Short-Term Payment Plan: This plan is ideal for those who can pay off their debt within 120 days. It doesn’t incur any setup fees, making it a cost-effective option for managing smaller debts.
- Long-Term Payment Plan (Installment Agreement): For debts that require more time to settle, this option allows you to make monthly payments over a longer period. While there is a setup fee, it can be reduced or waived for qualifying low-income taxpayers2.
- Offer in Compromise: In certain cases, the IRS may accept less than the full amount owed if you can prove that paying your full tax liability would cause financial hardship3.