Need advice on setting up IRS payment plan for back taxes - what to prepare?
Hey everyone, I need to set up a payment plan for my back taxes. I know how much I owe and I'm ready to make an agreement. Any advice on how to approach this when I talk to the IRS? What should I have ready?
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Rami Samuels
I've been through this before. Here's what you need to do: • Gather all your tax returns and any notices from the IRS • Figure out how much you can afford to pay each month • When you call, ask about different payment options like installment agreements or offers in compromise • Be prepared to discuss your financial situation • Have your bank account info ready if you want to set up direct debit Good luck! It's not as scary as it seems once you get started.
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Haley Bennett
•This is solid advice 💯 I wish I had known all this before I called. Would've saved me so much stress!
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Douglas Foster
•Quick question - how long did it take you to get everything set up once you called?
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Rami Samuels
•It took about an hour on the phone, but the whole process from deciding to call to having the plan in place was about 2 weeks. They had to review my info.
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Nina Chan
ugh good luck getting anyone on the phone. I've been trying for WEEKS 😤
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Ruby Knight
•Same boat here. Its like they dont want our money or something 🙄
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Diego Castillo
•I found a way to get through! There's this site called claimyr.com that has a calling tool. It dials the IRS, stays on hold, and then connects you when a real person picks up. Costs $20 but totally worth it for me.
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Logan Stewart
Whatever you do, DON'T agree to pay more than you can afford each month. They'll pressure you, but stand your ground!
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Mikayla Brown
Has anyone tried negotiating the amount owed? I've heard you can sometimes get penalties waived.
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Sean Matthews
•Yep, I got about 30% of my penalties removed. You gotta have a good reason tho, like financial hardship or somethin
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Ali Anderson
•I tried but struck out. Guess it depends on your situation and who you talk to 🤷♂️
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Zadie Patel
Pro tip: if you owe less than $50k, you can set up a payment plan online without even calling. Saved me so much hassle!
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Tami Morgan
•Oh wow, I didn't know that! Unfortunately I owe more than 50k 😅 But thanks for the info, might help someone else here!
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A Man D Mortal
anyone else feel like the whole tax system is designed to be as confusing as possible? 🤔 like they want us to mess up
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Declan Ramirez
•Preach! 👏 It's a conspiracy to keep accountants in business lol
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Emma Morales
•Nah, it's just decades of patches and fixes on an old system. But yeah, it suuuucks
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Katherine Hunter
Hey OP, just wondering - how did you end up owing back taxes? No judgment, just curious about others' experiences.
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Tami Morgan
•Long story short - had some unexpected income from a side gig and didn't set aside enough for taxes. Lesson learned the hard way 😓
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Katherine Hunter
•Oof, been there. At least youre taking care of it now. Better late than never, right?
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