Need to set up IRS payment plan for tax debt - What to expect and tips?
Hey everyone, I need to set up a payment plan with the IRS for my tax debt. Has anyone gone through this process recently? What should I expect when I call them? Any tips or advice would be really appreciated!
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Paolo Longo
I just went through this last month. Here's what you need to know: • Know exactly how much you owe before calling • Decide on a monthly payment you can afford • Be ready to discuss your financial situation • Have your tax returns and bank statements handy • Be patient, the wait times can be long When you get through, explain you want to set up an installment agreement. They'll ask about your income, expenses, and assets. Be honest but don't volunteer extra info. Good luck!
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CosmicCowboy
•This is really helpful, thanks! Did they ask for any specific documentation during the call?
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Paolo Longo
•Not during the call itself, but they might ask you to mail or fax some docs later. Keep everything ready just in case.
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Amina Diallo
•How long did the whole process take for you? I'm dreading spending hours on the phone 😩
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Paolo Longo
•Honestly, it took about 2 hours total. Most of that was on hold tho. The actual convo was maybe 20-30 mins.
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Oliver Schulz
Ugh, good luck getting through to anyone. I've been trying for weeks and keep getting disconnected. The IRS phone system is a joke 🤡
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Natasha Orlova
•Same here! It's like they don't want our money or something 🙄
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Javier Cruz
•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 to avoid the hold time hell.
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Oliver Schulz
•For real? That sounds too good to be true. Has anyone else tried this?
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Javier Cruz
•Yeah, I was skeptical too but it worked for me. Saved me hours of frustration. Here's the link if anyone wants to check it out: https://www.claimyr.com
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Emma Wilson
•Idk man, paying to talk to the IRS feels wrong somehow. But I guess if it works... 🤷♂️
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Javier Cruz
•I get that, but think about how much your time is worth. For me, not spending hours on hold was totally worth the 20 bucks.
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Malik Thomas
Pro tip: try calling right when they open in the morning. I got through in like 15 minutes doing that.
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NeonNebula
Whatever you do, DON'T agree to a payment plan you can't afford. Been there, done that, and it only made things worse. Be realistic about what you can pay each month.
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Isabella Costa
•This 💯 Take it from someone who messed up and had to renegotiate. It's a pain.
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Keisha Johnson
•Thanks for the advice! I'll make sure to crunch the numbers before I call.
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Ravi Malhotra
Has anyone tried negotiating the amount owed? I've heard you can sometimes get penalties waived if you have a good reason.
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Freya Christensen
•Yes! I got about 20% of my penalties waived by explaining my situation. It never hurts to ask!
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Omar Farouk
•I tried but no luck. I think it depends on your specific circumstances and maybe who you talk to.
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Chloe Davis
Just remember, setting up a payment plan doesn't stop interest from accruing. Try to pay it off as fast as you can to minimize the total you'll end up paying.
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AstroAlpha
•This! I'm still kicking myself for dragging out my payments. The interest adds up quick 😭
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Diego Chavez
Anybody else find it ridiculous that we have to jump through all these hoops just to pay what we owe? The system is broken af
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Anastasia Smirnova
•Preach! 🙌 It's like they're stuck in the 1980s or something
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Sean O'Brien
•Ikr? In what other business would this level of customer service be acceptable?
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Zara Shah
Hey OP, don't forget to ask about the different types of payment plans. There's a short-term one if you can pay within 180 days, and it has lower fees.
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Keisha Johnson
•Oh, I didn't know about that! Thanks for the heads up, I'll definitely ask about it.
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Luca Bianchi
Plot twist: what if we all just... didn't pay? 👀 Jk jk don't come for me IRS
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GalacticGuardian
•Lmao imagine the chaos 🤣 But fr, don't mess with the IRS. They always win in the end.
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