Services: Pay Over Time / Installment Agreements:
Regular Installment Agreements

Arranging Tax Payments You Can Handle

For regular installment agreements, the IRS will demand that financial statements, as well as Form 433-A Financial Statement and/or Form 433-B Financial Statement, be prepared and filed in order to determine your ability to pay under a regular installment agreement.

These financial statements, including Form 433-A or Form 433-B, 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.

All persons who enter into a tax installment agreement receive Form CP-89 annually regarding their remaining unpaid tax. Patrick T. Sheehan & Associates, Attorneys at Law, P.C. is well suited to determine your eligibility for an installment agreement, and, if eligible, to file one for you. If you are interested in determining if you are eligible for a regular installment agreement to avoid future tax problems, please call us. Or, learn more about securing a streamlined installment agreement.

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