PARTIAL PAYMENT INSTALLMENT AGREEMENT
You can request a Partial Payment IRS Installment Agreement if you are unable to afford the other IRS Installment Agreement types.
The Partial Payment Installment Agreement (PPIA) is a bit more complicated to manage from a records perspective, but can save taxpayers a substantial amount on their tax balances. Taxpayers following this plan have to disclose all financial information and documents to the IRS to be accepted. CTR negotiates a hardship payment based off the taxpayer’s current financial information. This hardship payment is less than the monthly payment needed to satisfy the tax debt in full. The IRS has a 10-Year Statute of Limitations in which they can collect on past due tax debt. The PPIA payment will be made for the duration of that 10-year period, but will not pay the tax balance in full by the time the IRS can no longer collect on the tax debt.
IRS PARTIAL INSTALLMENT AGREEMENT
You can request a Partial Payment IRS Installment Agreement if you are unable to afford the other IRS Installment Agreement types. The IRS will ask you to provide personal and financial information. The IRS will determine the payments you can afford. For example, you owe $50,000. The IRS determines you can afford $250 payments. The IRS will agree to an IRS Installment Agreement for no lower than $250 per month. If you are unable to afford $250 per month payments, you may need help negotiating with the IRS. The IRS will request that you fill out Form 433A or Form 433F to report personal and financial information.
Please note:Â If you qualify for a Partial Payment IRS Installment Agreement, then you may qualify for an IRS Tax Settlement. We recommend an IRS Tax Settlement over a Partial Payment IRS Installment Agreement. A Partial Payment IRS Installment Agreement can last for 8 to 10 years. You can pay an IRS Tax Settlement in 5 to 24 months
