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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If you are looking for a professional CPA to prepare your taxes, I highly recommend Tax Service Masters.
ZT Gallery Contemporary Art
December 1, 2021My 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
FLA BUSINESSES
November 1, 2023 -
Service was super fast and very professional. I would highly recommend Iryna for your accounting needs.
Alex Mak
December 1, 2021Very easy to work with and professional.
Matthew Schmidt
November 3, 2023 -
Thanks Iryna. You are the best
anastasia asipchuk
December 1, 2022Работать 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, 2021 -
I would definitely recommend this company to my family and friends very fast and accurate services
James Hinton
December 1, 2021This 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, 2022 -
Service was amazing fast and easy, For sure I’m coming back next year.
Ivri Depaz
December 1, 2021My accountant of many years really put me in a bind, she had me three years behind on my taxes. I found the Tax Service Masters, not only was Mr.... More Tax Reviews
Josh Spoto
December 1, 2021 -
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, 2023I have hired @tax service masters to open a U.S. based company and a bank account for me. All was done remotely (I didn’t have to even come into the... More Tax Reviews
Marianna Rack
October 1, 2023 -
We know Irina around 3 years. She is professional and good person) We like her service in accounting and tax documentation.
Нина Худабердиева
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 -
Thank you very much Iryna . You are a professional. My recommendations
Aliona Taranenka
December 1, 2022Nice to work with!
David Chambers
November 3, 2023 -
Fast and reliable
Anatolii Oprea
December 1, 2021Helpful, friendly annual tax prep and bookkeeping. She has helped me save money on taxes as a business owner!!! Thank you😊
Stacey Given
December 1, 2022 -
Tax 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, 2022Iryna 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
