Amazines Free Article Archive
www.amazines.com - Thursday, July 24, 2025
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133577)
 Advice (161673)
 Affiliate Programs (34799)
 Art and Culture (73858)
 Automotive (145727)
 Blogs (75623)
 Boating (9851)
 Books (17224)
 Buddhism (4130)
 Business (1331065)
 Business News (426461)
 Business Opportunities (366526)
 Camping (10974)
 Career (72796)
 Christianity (15854)
 Collecting (11638)
 Communication (115089)
 Computers (241958)
 Construction (38977)
 Consumer (49954)
 Cooking (17080)
 Copywriting (6734)
 Crafts (18203)
 Cuisine (7549)
 Current Affairs (20323)
 Dating (45910)
 EBooks (19704)
 E-Commerce (48279)
 Education (185536)
 Electronics (83525)
 Email (6438)
 Entertainment (159864)
 Environment (29004)
 Ezine (3040)
 Ezine Publishing (5454)
 Ezine Sites (1551)
 Family & Parenting (111012)
 Fashion & Cosmetics (196613)
 Female Entrepreneurs (11853)
 Feng Shui (134)
 Finance & Investment (310640)
 Fitness (106493)
 Food & Beverages (63058)
 Free Web Resources (7941)
 Gambling (30227)
 Gardening (25207)
 Government (10519)
 Health (630190)
 Hinduism (2206)
 Hobbies (44083)
 Home Business (91753)
 Home Improvement (251310)
 Home Repair (46262)
 Humor (4729)
 Import - Export (5462)
 Insurance (45105)
 Interior Design (29637)
 International Property (3488)
 Internet (191034)
 Internet Marketing (146690)
 Investment (22864)
 Islam (1161)
 Judaism (1352)
 Law (80500)
 Link Popularity (4596)
 Manufacturing (20933)
 Marketing (99329)
 MLM (14140)
 Motivation (18237)
 Music (27000)
 New to the Internet (9498)
 Non-Profit Organizations (4049)
 Online Shopping (129743)
 Organizing (7813)
 Party Ideas (11855)
 Pets (38165)
 Poetry (2229)
 Press Release (12691)
 Public Speaking (5643)
 Publishing (7566)
 Quotes (2407)
 Real Estate (126918)
 Recreation & Leisure (95497)
 Relationships (87678)
 Research (16182)
 Sales (80369)
 Science & Technology (110299)
 Search Engines (23525)
 Self Improvement (153318)
 Seniors (6224)
 Sexuality (36012)
 Small Business (49399)
 Software (83054)
 Spiritual (23537)
 Sports (116156)
 Tax (7664)
 Telecommuting (34070)
 Travel & Tourism (308303)
 UK Property Investment (3123)
 Video Games (13382)
 Web Traffic (11803)
 Website Design (56951)
 Website Promotion (36673)
 World News (1000+)
 Writing (35853)
Author Spotlight
LEMUEL ASIBAL

Lemuel Asibal is a web content writer who also ventures on writing articles and blog posts about any...more
LINDA HOLLAND

I am a passionate article and blog writer based in South Africa. With a love for life and a strong d...more
JOSEPH ZHOU

China Care Medical has been exporting out Chinese medical equipment for many different countries. We...more
HEINZ RAINER

Thirty years Africa, Asia, Europe | Worked in Industry, Trade | preferred Nations : China, Thailand,...more
AREESH ISHTIAQ

Areesh Ishtiaq a Top Rated SEO and Digital Marketing Guru on Upwork, working as a project manager fo...more


IRS Tax Help Payment Strategy How to Set Up a Payment Program With the IRS on Back again Taxes by Daniel Thomas





Article Author Biography
IRS Tax Help Payment Strategy How to Set Up a Payment Program With the IRS on Back again Taxes by
Article Posted: 05/10/2011
Article Views: 87
Articles Written: 1856
Word Count: 653
Article Votes: 0
AddThis Social Bookmark Button

IRS Tax Help Payment Strategy How to Set Up a Payment Program With the IRS on Back again Taxes


 
Business
Okay. Let us talk about how to get the IRS to accept a pay out plan for the again taxes you owe. Malcolm C. of Lexington, KY writes me asking how he can set up a payment prepare with the IRS on his $19,000 tax debt.

Let us assessment some of the facts of the scenario very first:

1. Malcolm owes for two decades 2003 and 2004.

2. All of his tax returns are filed.

3. He is not below a existing levy/garnishment.

four. He does not owe for business taxes, just personalized.

It turns out Malcolm claimed "exempt" on his W-four for 2003 and 2004 to check out to get some extra dollars. And now the IRS needs their cash. The IRS would like Malcolm to spend $753 per month on a payment plan. But he can only afford to pay out $400 per month. What are his options? This is a really frequent circumstance that I see around and more than once again with my clientele.

Very first of all, you will by no means get away with claiming "exempt" on your W-four. Ultimatelyyou will constantly have to pay out the piper (in addition penalties and curiosity). In virtually every single situation, the further money you obtained during the exempt period just isn't well worth the trouble and expense you experience later on. If the IRS desired to get super technical about it, they could almost certainly make a criminal cost of tax fraud stick by claiming that you knowingly and willfully underwithheld on your cash flow taxes. Nevertheless, the probabilities of you obtaining even investigated (let on your own indicted) are following to none in a situation like this. Bottom line: Just do not do it.

Resolution: The very best point for Malcolm to do is contact the IRS ACS (Automated Collection System) line at 1-800-823-1040 and request a "Streamlined Installment Agreement." A Streamlined Installment Agreement is available to any taxpayer as a make any difference of correct if you owe significantly less than $25,000 have all of your tax returnsfiled and only owe for individual income tax (no enterprise payroll tax debts). The Streamlined Installment Agreement is calculated by taking your total tax liability (in this situation $19,000) and dividing it by sixty months. So Malcolm is hunting at a month to month payment of roughly $320 to $325 per month over the subsequent 5 years (sixty months) that he can set up with the IRS ACS unit.

The advantage of a Streamlined Installment Agreement is that the IRS will not levy or garnish you as long as you are on the spend strategy. It turns into one more month-to-month bill and you just shell out it for the subsequent 5 many years (it will truly be a small longer than five a long time given that penalties and interest will still accrue). Now the IRS reserves the proper to file a Federal Tax Lien even if you are making the payments to preserve their interest in the credit card debt till it is compensated in complete, so really don't be shocked if this takes place. Bear in mind a Lien and a Levy are two diverse items. The lien will not consider your income, your wages, or your home. It just sits on your credit score report till the debt is compensated.

Also, you will need to make positive that you remain compliant for the future. Any non-compliance will place the agreement in default and then all bets are off. The IRS defines "compliance" in this case as making positive all of your returns are filed on time (typically by April 15th) and that you do not operate any new balances (all taxes are compensated by April 15th for the prior year). Great luck Malcolm. In a long term post I will explain how you can get a reduction in a comparable situation by getting the penalties and interest on penalties eliminated.


irs tax help

Related Articles - irs tax help, irs audit, irs tax settlement,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


ALEX BELSEY

I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
STEPHEN BYE

Stephen Bye is a fiction writer. His most recent novels are a 5-book “The Developer” series which be...more
LEVAL AINAH

I am an internet marketer and also an educator. My goal is to help others who are looking to improve...more
TIM FAY

After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
PAUL PHILIPS

For more articles, blog messages & videos and a free e-book download go to www.NewParadigm.ws your p...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2025, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license