Need help setting up IRS payment plan - what to expect?
Hey everyone, I'm trying to set up a payment plan with the IRS but I'm not sure where to start. Has anyone gone through this process before? What should I expect? Any tips or advice would be really appreciated!
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Tom Maxon
I found a way to solve IRS payment plan setup issues, watch this: https://www.youtube.com/watch?v=OGIK-V0x3nk
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Jamal Wilson
I've been through this before. It's not as scary as it sounds! First, you need to determine if you're eligible for a payment plan. The IRS website has a tool called the Online Payment Agreement that can help you figure this out. You'll need to provide some basic info like your tax balance, income, and expenses.
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Mei Lin
This is really helpful, thanks! Do you know if there's a minimum amount you need to owe to qualify for a payment plan?
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Jamal Wilson
As far as I know, there's no minimum amount. But if you owe less than $50,000, you can apply online. For larger amounts, you might need to call or fill out additional forms.
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Liam Fitzgerald
Just a heads up, even with a payment plan, interest and penalties continue to accrue. So try to pay it off as quickly as you can!
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Amara Nnamani
Ugh, dealing with the IRS is such a pain. Good luck getting anyone on the phone! 🙄
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Giovanni Mancini
I know right? I was on hold for HOURS last time I tried to call them. It's ridiculous!
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NebulaNinja
Actually, I found a way around that! I used this site called claimyr.com. It's a calling tool that dials the phone menu, stays on hold, and then forwards the call to you when a live agent picks up. It costs $20, but it saved me so much time and frustration. Here's a video about it: https://youtu.be/_kiP6q8DX5c
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Fatima Al-Suwaidi
Wait, seriously? That sounds too good to be true. Has anyone else tried this?
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NebulaNinja
I was skeptical at first too, but it really worked for me. Saved me hours of waiting on hold. Totally worth the $20 in my opinion.
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Dylan Mitchell
Here's what you need to know about IRS payment plans: 1. Short-term plan (180 days or less): - No setup fee - Can pay by check, money order, credit card, or direct debit 2. Long-term plan (more than 180 days): - Setup fee varies ($31-$225 depending on method) - Lower fee if you agree to direct debit Remember, you'll still owe penalties and interest until the balance is paid in full. And make sure you file all required tax returns before applying! Hope this helps, OP! Let me know if you have any other questions.
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Zoe Papanikolaou
Wow, thank you so much for breaking this down! This is exactly what I needed. Quick question - do you know if they ever waive the setup fee for long-term plans?
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Dylan Mitchell
Glad I could help! The IRS does offer fee waivers for low-income taxpayers. If your income is at or below 250% of the federal poverty level, you can apply for a waiver using Form 13844.
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Sofia Morales
am i the only 1 who thinks its crazy we have to pay the irs to set up a plan to pay them?? 🤡 the whole system is rigged i swear
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Dmitry Popov
Has anyone tried negotiating with the IRS? I've heard they sometimes accept less than what you owe if you can prove financial hardship.
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Ava Garcia
Yeah, it's called an Offer in Compromise. But it's not easy to get approved. They really dig into your finances and assets.
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StarSailor}
I tried that once. It was a loooong process and they ended up rejecting my offer. But I guess it's worth a shot if you're really struggling.
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Miguel Silva
Pro tip: If you can pay off the full amount within 120 days, you can set up a payment plan without any fees at all. Just call the IRS and ask for a 120-day extension.
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Zainab Ismail
This is great advice! Wish I'd known this earlier. Thanks for sharing! 💯
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Connor O'Neill
Whatever you do, DON'T ignore the IRS. I made that mistake and ended up with a lien on my house. It's always better to communicate with them, even if you can't pay right away.
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Yara Nassar
Oof, that sounds rough. How long did it take you to sort that out?
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Connor O'Neill
It took about 2 years to get everything settled. Learned my lesson the hard way for sure.
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Keisha Robinson
Just a reminder to everyone: be careful about sharing too much personal info online when it comes to tax stuff. You never know who's reading these forums! 👀
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GalaxyGuardian
Has anyone used a tax professional to help set up their payment plan? Is it worth the extra cost?
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Paolo Ricci
I used one and found it really helpful. They knew all the ins and outs of the system and saved me a lot of headaches. But it definitely adds to the overall cost.
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Amina Toure
Honestly, if your situation is pretty straightforward, you can probably handle it yourself. But if you have a complicated tax situation or owe a lot, a pro might be worth it.
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Oliver Zimmermann
PSA: If you're setting up a direct debit agreement, make sure you always have enough in your account on the payment date. If a payment bounces, the IRS can cancel your entire agreement!
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