>>> FORMER IRS ATTORNEY --- PATRICK T. SHEEHAN >>> 

>>> SERVICES: PAY OVER TIME / INSTALLMENT AGREEMENT    >>>

>>> IRS COLLECTION EFFORTS

>>> COLLECTION - INDIVIDUAL

>>> COLLECTION - BUSINESS

>>> OFFER IN COMPROMISE

>>> PAY OVER TIME/INSTALLMENT AGREEMENT

>>> INNOCENT SPOUSE RELIEF

>>> REQUEST FOR PENALTY ABATEMENT BASED UPON REASONABLE CAUSE

>>> DEEMED UNCOLLECTIBLE

>>> TRUST FUND RECOVERY PENALTY

>>> AUDITS AND AUDIT RECONSIDERATION

>>> STATUTE OF LIMITATION

>>> BANKRUPTCY

>>> JURISDICTION OF FEDERAL COURTS / TAX LITIGATION

>>> IRS NOTICES

BASED ON A TAXPAYER'S FINANCIAL CONDITION, the IRS may be unwilling to accept an Offer in Compromise to settle an unpaid liability. For example, if you have the financial ability to pay your assessed liability in full over time, the IRS will not accept an Offer in Compromise. In that event we may be able to negotiate an installment agreement with the IRS as a way to resolve your tax liability.

Installment agreements are contractual arrangements with the IRS that allow a taxpayer to pay his or her liability in full over time. The basis of an installment agreement is the monthly payment that is negotiated between the IRS and a taxpayer for a specific period of time. The IRS formalizes an installment agreement on a Form 433-D

There are generally two types of installment agreements:

- Regular installment agreements
- Streamlined installment agreements

For regular installment agreements, the IRS will demand that financial statements, Form 433-A and/or Form 433-B, be prepared and filed in order to determine your ability to pay under an installment agreement. The financial statements are used as the basis for negotiating an acceptable monthly payment. A potential downside to filing financial statements, in addition to the added time and expense related to the preparation of these documents, is that you are forced to disclose your entire financial condition to the IRS. This disclosure may or may not be favorable to you depending upon your particular circumstances.

One alternative is a streamlined installment agreement if your assessed tax liability is not too large. If the liability is not too large, the IRS may not require the submission of financial statements and we can negotiate an acceptable monthly payment for up to 60 months (5 years). If you are eligible for a streamlined installment agreement we can save both time and money to attempt to resolve your tax liability.

As with any contract, you must comply with the terms and conditions of the installment agreement. If you fulfill your obligations under the installment agreement, the IRS will not levy on your wages, seize your bank account or otherwise take any further enforced collection action against you. You will also enjoy a final resolution to your tax problems.

Patrick T. Sheehan & Associates, Attorneys at Law, P.C. has successfully negotiated many installment agreements with the IRS since its inception in 1991. Patrick T. Sheehan & Associates, Attorneys at Law, P.C. builds upon its past successes and has developed an installment agreement program that promotes positive results for our clients.

If you are interested in obtaining an installment agreement to resolve your IRS problem, please call us.

We can help. Call us before the IRS calls you! ®


Patrick T. Sheehan & Associates, Attorneys At Law, P.C.  | DISCLAIMER | 1-877-447-7529  | CONTACT