Скачать или смотреть The IRS Allows You to Have Only 1 Payment Plan

If you owe taxes to the IRS, you can set up an installment agreement to pay off the balance over 6 years. This payment plan spreads out what you owe over time.

However, there are caveats. You can only have one active payment plan - you can't stack multiple plans over different years. The plans can be combined, but no overlapping separate agreements.

Interest and penalties continue to accrue during the payment term, so you end up paying more than just the original balance due. There are also fees to establish the installment agreement.

The plans allow flexibility on timing, but you only get one concurrent payoff period. Understand the rules before assuming you can chain multiple payment plans over time. Get on a plan but be aware of the limitations.

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About Me:

Christopher J. Campbell, CPA www.chriscampbellcpa.com [email protected]

I operate a virtual accounting firm focusing on tax, accounting, bookkeeping and CFO services for closely held businesses and individuals. I additionally provide business management services for creatives.