IRS Tax Payment Plans

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If you respond timely to IRS collection notices and make a good faith effort to cooperate with the government, you should be able to negotiate a mutually satisfactory payment arrangement with the IRS.

After providing detailed financial statements (on prescribed IRS forms signed under penalties of perjury) and submitting bank statements and other corroborating documents, the IRS will put you in non-collectible status or give you a monthly payment plan.

Non-Collectible Status

If you are living paycheck to paycheck and just make enough money to pay your necessarily living expenses, there is a high likelihood that the IRS will put you in what is called “non-collectible status.” Non-collectible status (also called “53″ for the IRS code assigned to it), simply means that you do not have an excess income available at the end of the month after you pay your bills.

Monthly Payment Plans

If you have money left over every month after you pay your living expenses, you can offer to pay the excess to the IRS on a monthly basis. If the IRS agrees with your calculations, it will enter into a formal Installment Agreement (Form 433D) with you allowing you to pay your debt off over time.