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IRS Plans To Fast Track More Installment Agreements

by Scott Hamilton, Tax-News.com, Washington

27 September 2016


The Internal Revenue Service is considering whether to relax the eligibility conditions for taxpayers seeking streamlined processing of their requests for certain installment agreements.

The IRS said it is testing out eased rules until September 30, 2017. Under the trial, more taxpayers will qualify to have their installment agreement request processed in a streamlined manner.

One expanded criterion being tested covers those individual taxpayers with an assessed balance of tax, penalty, and interest between USD50,000 and USD100,000, if the taxpayers' proposed monthly payment is the greater of their total assessed balance divided by 84, or the amount necessary to fully satisfy their liability by the Collection Statute Expiration Date.

More information on the expanded test criteria will be made available shortly.

TAGS: individuals | compliance | tax | tax compliance | law | Internal Revenue Service (IRS) | tax authority | agreements | United States | individual income tax

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