08 / 12 / 11

GOOD TO KNOW: GOOD NEWS REGARDING INSTALLMENT PAYMENTS AND THE LIMITATIONS STATUTE

When it comes to installment payments, it used to be that the IRS wouldn't agree to the arrangement if the taxpayer's debt would not get paid off before the statute ran out.

But thanks to Congress, this is no longer the case.

Code section 6159(a) now makes it to where the IRS must take into consideration your entire financial situation before deciding on an installment agreement.

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