Categories: IRS DebtIRS Payments

Can’t Afford Your IRS Payment Plan? – Ways To Fix It

If you cannot afford your IRS payment plan you may be able to fix it by…

  1. Entering a new IRS payment plan
  2. Putting your case into Currently Not Collectible status
  3. Filing an Offer In Compromise
  4. Filing a bankruptcy

New IRS payment plan

Since you already have been paying in on the debt, you may be able to lower your payment per month and stretch it out for a longer period of time.

You might also qualify for a lower payment plan based on your financial information, but this often results in a tax lien being filed.

Currently Not Collectible status

Equivalent to a payment plan for $0 per month. You will need to provide financial information to the IRS in order to get this approved.

You need to prove that you cannot afford to pay based on your financial information. 

The IRS takes some figures based on the county you live in and some based on your actual expenses.

Bankruptcy

When you file a bankruptcy, you will not be required to make payments on your tax payment plan.

Not all tax debts qualify for bankruptcy so check with your bankruptcy attorney to see what qualifies. Often if your main debt is just taxes, you are better off getting an Offer In Compromise instead.

Get a free, detailed tax case evaluation!

Call us at (888) 515-4829 or go to trp.tax/start

If we cannot help you, we’ll tell you. 

If you cannot afford help or want to do it yourself, go to trp.tax/taxhelp or Google “trp tax help guide”

Need a question answered? Comment on our YouTube videos and a tax attorney will answer.

For immediate help call (888) 515-4829 and we’ll assist you. You can also fill out the form below.

Robert Kayvon, Esq.

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