Installment Agreement Extension

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.

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  • Unlike 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 Avatar 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

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    December 1, 2022
  • Nice to work with!

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    November 3, 2023

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    October 1, 2023
  • 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

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    December 1, 2021

    I would definitely recommend this company to my family and friends very fast and accurate services

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    December 1, 2021
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    December 1, 2022

    Fast and reliable

    Anatolii Oprea Avatar Anatolii Oprea
    December 1, 2021
  • We know Irina around 3 years. She is professional and good person) We like her service in accounting and tax documentation.

    Нина Худабердиева Avatar Нина Худабердиева
    December 1, 2021

    My 2022 taxes were prepared perfectly, had several types of income to report, rental income, previous losses to carryover and not a clue how to file or prepare correctly on... More Tax Reviews

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    November 1, 2023
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    Eugene Pustovalov Avatar Eugene Pustovalov
    March 1, 2023

    Iryna and Joseph are super professional, and their rate very affordable. I am so glad I found them. My situation is complex and they helped me a lot, I would... More Tax Reviews

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    July 1, 2023
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    December 1, 2021

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    December 1, 2021
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    November 3, 2023

    If you are looking for a professional CPA to prepare your taxes, I highly recommend Tax Service Masters.

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    December 1, 2021
  • This was my first time coming to this place. Never heard of them before, but I was very impressed. Joseph and Iryna were very knowledgeable, respectful, and professional. This is... More Tax Reviews

    J E Avatar J E
    March 1, 2023

    Very professional! Recommend.

    Michael Halprin Avatar Michael Halprin
    November 1, 2023
  • Iryna 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 Avatar Bella scramoncin
    November 3, 2023

    Outstanding Service! Irnya is the best! I will definitely use them again!

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    December 1, 2022