Installment Agreement Increase
Is your Installment Agreement about to Increase? No problem, we can help. Tax Service Masters can apply for an extension with the IRS with ease. Contact us, or fill out the form below and we’ll call you.
Why Is My Installment Agreement Increasing?
Why would your Installment Agreement Increase? Oftentimes, tax professionals are able to arrange Installment agreements for their clients. However, the IRS grants a lesser amount during the 1st year of the agreement and an increase afterwards. The dilemma being taxpayers usually need an extension of the lower installment agreement. Whether your increase is coming up, or already in effect we can help you receive an Installment Agreement Extension. Individual results vary, and are based on the financial information you provide us.
A Payment Plan was Accepted and Set-Up, Why Did I Still Receive a Threatening IRS Letter?
This section is for taxpayers that want assurance that their payment plan is in motion, and no adverse or negative penalties or interest is accruing on their account. Reading this small paragraph / example below should help you better understand why you most likely received the penalty and interest letter(s). Understanding the way the IRS automated system works is key.
The best way to explain this common problem is by example.
Let’s say you filed your taxes on-time, and their was a balance owed to the IRS of $3500.
- You could only afford to pay $1,000 at the time of filing, leaving you with a $2,500 balance.
- Your tax professional put you on a payment plan to pay $500 per month for 5 months.
- The payment plan was accepted, and all is well.. until:
You receive an IRS letter outlining your $2,500 balance is subject to interest and penalties.. What Happened?
The short answer is: Nothing unusual happened (IRS business as usual happened), when you file and there is a balance owed the IRS automated system triggers an automated letter which is then sent to you saying “hey taxpayer you owe us this, and if arrangements aren’t made you’ll owe us this”. The automated system does not know yet that you or or your tax professional set up a payment plan. The IRS automated system is always behind, look a it as an old news regurgitator. Although, it is a way to let taxpayers know what can happen if actions aren’t taken.
Tax Service Reviews
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Helpful, friendly annual tax prep and bookkeeping. She has helped me save money on taxes as a business owner!!! Thank you😊
Stacey Given
December 1, 2022Fast and reliable
Anatolii Oprea
December 1, 2021 -
Thank you very much Iryna . You are a professional. My recommendations
Aliona Taranenka
December 1, 2022Tax Service Masters by far exceeds any expectations and good experiences I have ever had with personal and business taxes. The minute I walked in, I was amazed by the... More Tax Reviews
Michael Lara
December 1, 2022 -
Service was super fast and very professional. I would highly recommend Iryna for your accounting needs.
Alex Mak
December 1, 2021Very knowledgeable, professional and quick
Anjelika Hrubar
December 1, 2021 -
This year we were forced to change the old accountant. Came here on a recommendation and we were pleased. Professionally, fast, easy, fair price, understandable. Definitely recommended.
Eugene Pustovalov
March 1, 2023I highly recommend Irina for tax income services, she is very good!
Marina Roublenko
December 1, 2022 -
Service was amazing fast and easy, For sure I’m coming back next year.
Ivri Depaz
December 1, 2021Unlike other accountant, Iryna will never give up fighting for your tax case no matter what the issue was until it gets solved! Thanks Vera for recommending her. I highly... More Tax Reviews
Hatem
December 1, 2021 -
This is the best company you can ask to do your taxes and any related challenges your facing with IRS ...very dependable honest and no sugar coating most importantly a... More Tax Reviews
Evita Yubane
December 1, 2022We know Irina around 3 years. She is professional and good person) We like her service in accounting and tax documentation.
Нина Худабердиева
December 1, 2021 -
Professional knowledgeable top grade company. Strongly recommend them.
Liliy Kit
December 1, 2021Iryna is just amazing! Not only is she incredibly personable but very knowledge and overall easy to work with. I have only ever had good experiences and have greatly appreciated... More Tax Reviews
Bella scramoncin
November 3, 2023 -
Amazing experience! Everything went smoothly and Iryna was there to promptly answer any questions. She was very attentive and personable during my interactions. Certainly makes her the person I will... More Tax Reviews
Gabriel Dantzler
November 3, 2023Tax Service Masters is the best!!! They did an amazing job settling my debt with IRS! Fair prices and high-quality service with results.
Svetlana Pinegar
March 1, 2023 -
Very easy to work with and professional.
Matthew Schmidt
November 3, 2023Great professional! Always does our taxes quick and very good. Definitely recommend to everyone!
Vladok Americanets
December 1, 2021 -
Работать с отличным профессионалом это большая удача. Ирина все выполняет качественно, внимательно и ответственно. Она готовит мои налоговые декларации на протяжении многих лет, она решала вопросы и для бизнеса, и... More Tax Reviews
Tatiana Bertram
December 1, 2021Friendly and fast. I received my return before my girlfriend got hers, and she filed online before i did... Thanks Tax Service Masters!
E Rock
March 1, 2023
