How Can I Pay Off My Tax Debt?

irs installmentWhat can you do if you owe the IRS but you cannot pay the debt in full?  You may qualify for an IRS installment agreement.  The IRS offers taxpayers the option of paying off their tax debt through an installment agreement. However, interest and penalties will still be assessed to the balance you owe; therefore, you should make the largest payment possible each month to lower the total amount to be paid.

For information on the four different types of IRS installment agreements read, “The IRS Installment Agreement.”

Image credit:  Chris Potter