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Updated for Tax Year 2022 • October 18, 2022 11:36 AM OVERVIEW Can't afford to pay your income taxes? You may be able to qualify for an installment plan with the Internal Revenue Service. The minimum monthly payment for your plan depends on how much you owe. IRS payment planIf you can’t afford to pay your taxes, you may be able to qualify for an installment plan with the Internal Revenue Service.
Minimum monthly paymentYou can apply for an installment agreement online, over the phone, or via various IRS forms.
Fees for IRS installment plansIf you can pay off your balance within 180 days, it won't cost you anything to set up an installment plan.
Balance of $10,000 or belowIf you owe less than $10,000 to the IRS, your installment plan will generally be automatically approved as a "guaranteed" installment agreement.
Balance between $10,000 and $50,000With a balance due above $10,000, you can qualify for a streamlined installment plan.
Balance over $50,000Qualifying for a plan with a higher balance due requires additional information.
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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business. How do I set up a repayment plan with the IRS?Apply online through the Online Payment Agreement tool or apply by phone or by mail by submitting Form 9465, Installment Agreement Request.. Apply online: $0 setup fee (individuals only). Apply by phone, mail, or in-person: $0 setup fee (up to 180 days). Plus accrued penalties and interest until the balance is paid in full.. What is the minimum payment the IRS will accept?If you owe less than $10,000 to the IRS, your installment plan will generally be automatically approved as a "guaranteed" installment agreement. Under this type of plan, as long as you pledge to pay off your balance within three years, there is no specific minimum payment required.
How long of a payment plan will the IRS accept?There are two types of Streamlined Installment Agreements, depending on how much you owe and for what type of tax. For both types, you must pay the debt in full within 72 months (six years), and within the time limit for the IRS to collect the tax, but you won't need to submit a financial statement.
What documents do I need to make a payment plan with the IRS?Use Form 9465 to request a monthly installment plan if you cannot pay the full amount you owe shown on your tax return (or on a notice we sent you).
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