The IRS Partial-Payment Installment Agreement (PPIA) Explained!
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- Опубликовано: 30 июл 2024
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The IRS partial-payment installment agreement, or PPIA for short, is a very advantageous tax resolution option for many people who owe the IRS, and we routinely secure them for our clients. Learn more about PPIAs, how to qualify for a PPIA, and how to get into a PPIA in this video!
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Table of Contents:
0:00 What Is a Partial-Payment Installment Agreement?
1:38 Partial-Payment Installment Agreement Example
2:46 How to Qualify for a Partial-Payment Installment Agreement
3:15 Dealing With Accessible Equity in Assets for PPIA Purposes
6:45 Calculating Your Disposable Income for PPIA Purposes
14:20 Will a PPIA Result in a Notice of Federal Tax Lien?
15:17 The IRS Can Review PPIAs Every Two Years
16:26 You Can Default on Your Partial-Payment Installment Agreement
17:00 How to Get an IRS PPIA
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I owe around $20000 in back taxes from 2013- current. I am scared to death about what is going to happen tonthe point that I'm having a major mental health episode (they were extremely worried I was going to try to hurt myself). We are in the process of finding all of the w2's so we can file our 2020-23 taxes. What is the best way to handle this whole process with the IRS? We can't really afford to hire someone to this with/for us, so we are gonna do this alone. Any advice? Please tell me we have options and it is not hopeless. We for sure can't afford the $275 a month payment to pay it off in 7 years.
Hi Tara. You have options. Please email me directly at logan.allec@choicetaxrelief.com to discuss further.
Get advice from a competent tax representative in your State (State taxes may be implicated as well).
I pulled all of our transcripts and our account says CNC not due to hardship. Should we go ahead and file our missing taxes from 2020-2022 and sit and wait for them to contact us or should we be proactive and contact them before they get to us? We have over $3000 worth from 2013 due to drop off in June.
They also get ppi thru garnishment after you have not met the high payment agreement.
I think its at the point that they will give alot of ppl this option say they can get something becauae ots alot of ppl that owe taxes this day and age
Yup, the IRS would rather get something than nothing!
I filled out Form 9465 (Installment Agreement Request). I entered an amount I can comfortably pay each month. Should I have months where I can pay more than the agreed upon amount, in order to get my balance paid off sooner...where can I pay the extra amount online?
Hi! I answered your question in this video that will be published soon: ruclips.net/video/-l1iHbqZm1I/видео.html
No. The IRS does not make it easy for people who want to get away paying only a fraction of their liability.
And this is as it should be. Pay your taxes like the rest of us or suffer the consequences.
Yup, OICs are extremely tough to get through and we usually have to appeal. PPIAs can be almost as tough!
And I agree - it definitely makes sense for the government to be quite stringent about who qualifies for these programs!