Tax season is always stressful, but did you know you can choose to pay your debt in installments to minimize your burden? IRS representation or an accountant can help you navigate the payment plans and regulations to make the most of your tax rights. Here are some options an accountant might present you with when you don’t have the funds you need on tax day.  

How IRS Representation Helps When You Can’t Pay Your Taxes

Request More Time

Whether you’re a business or individual taxpayer, you can request an extension of up to 120 days to pay the amount due. There are no fees, but you accrue interest until you pay off the debt. If you have IRS representation, your authorized accountant or other tax professional can ask for the payment agreement on your behalf, saving you from having to call the IRS yourself.

Make a Streamlined Installment Agreement

If your debt equals or is less than $50,000, you can get an extension of 72 months to pay your bill by entering into an installment agreement. A Certified Public Accountant (CPA) can help you get streamlined processing for it, which will ensure you’re entered into your payment plan by the time your taxes are due.

Other Installment Payment Options

If you don’t qualify for a streamlined installment agreement, a CPA can help you find the best payment plan to suit your needs. They may ask the IRS to give you an installment plan based on your ability to pay, place you under currently not-collectible (CNC) status, or negotiate an offer in compromise (OIC) if you have a long-term inability to pay. 

Based in La Crosse, WI, the certified public accountants at Gillette & Associates LLC CPA offer effective IRS representation backed by more than 20 years of experience. They help businesses and individuals meet their financial responsibilities, decrease their tax burdens, and navigate the complex options for tax payments to ensure they always pay their dues on time. Visit them online to learn more about their full range of services, or call (608) 784-8355 to schedule a consultation.