Installment Agreements

Affordable IRS Payment Plan Assistance

Owing more to the IRS than you can pay immediately does not mean you are out of options. An installment agreement may allow you to resolve your balance through manageable monthly payments rather than paying the full amount at once.

701 Tax Resolution helps individuals and businesses in Valley City and throughout North Dakota apply for IRS installment agreements based on their balances, income, expenses, assets, and ability to pay.

The IRS offers several types of payment arrangements. Some taxpayers may qualify for streamlined processing that requires limited financial information. Larger balances or more complicated financial situations may require detailed disclosures, including bank statements, income records, household expenses, and information about available assets.

Before requesting an installment agreement, it is important to determine what the IRS may accept and what you can realistically afford each month. Agreeing to a payment that is too high can create additional financial pressure and increase the risk of defaulting on the arrangement.

701 Tax Resolution can review your IRS account, confirm your filing compliance, organize the required financial information, and help propose a payment based on your circumstances. We can also communicate with the IRS and respond to questions or requests related to the application.

Interest and certain penalties generally continue to accrue until the balance is paid. Depending on the amount owed and the type of agreement, the IRS may also file a federal tax lien. Understanding these factors before entering an arrangement can help you make an informed decision.

Once an installment agreement is approved, it is important to make every payment on time and remain current with future tax filings and payments. Missing payments or creating a new tax balance may cause the agreement to default.

A properly structured payment plan can provide a clear path forward and reduce the immediate pressure of IRS collection activity.

Contact 701 Tax Resolution to discuss your IRS installment agreement options.