How long does it take for IRS to approve installment agreement
Here's how it works. The IRS will take $100,000 from you in back taxes. The money is not available to you. You could lose your home or your wages if the feds take over your finances.
Receiving a tax bill that you can’t pay off in one lump sum is one of the most common tax problems in the country. That’s why the IRS offers a solution through the IRS Fresh Start initiative.
Without sufficient evidence, the IRS will not accept any request for tax relief under the Fresh Start Initiative. Send as many supporting documents as possible when submitting a request. The best evidence to support the strict IRS Fresh Start Program requirements is documentation. Documentation you will need to include, but is not limited, doctor/medical reports, fire department reports and insurance claims. You also need student loan statements, student loan statements and death certificates from family members. A letter explaining your personal circumstances and the reasons you cannot pay your tax debt should be included with your Form 843. To be eligible for tax relief under the Fresh Start Program, all missing or unfiled tax returns must be filed. Your estimated tax payments must also be current and your withholdings must be accurate. All filings from the past six months must also be correct or current. Contacting a professional tax relief firm is the best way to avoid your request being denied. A tax relief company can assist you in filing a letter of appeal even if your request is denied by the IRS.