February 29, 2008, Newsletter Issue #52: Automatic IRS Installment Plan

Tip of the Week

If you owe less than $25,000 in unpaid taxes, you automatically qualify for an installment program arrangement. You simply need to use IRS Form 9465 to make your proposal.

There is one stipulation, however. In order to get the IRS automatic installment payment plan, you must be able to pay your unpaid tax bill within 36 months from the date of your request. Plus, your monthly payments must be of equal amounts.

While involved in the automatic installment payment program, your unpaid tax bill will still be accruing interest and penalties.

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