Best Accountants in Cleveland, TN

Depends on the balance you owe and if you have filed all your tax returns (no missing years). Most payment plans are based on 72 months of payments. If the amount required to pay per month is more than you can afford, then you will qualify for a partial pay installment agreement. A financial statement will have to be completed to show your current financial situation to qualify for the partial pay installment agreement.

An OIC is like a contract. You offer to pay the IRS a specific dollar amount to settle your total debt with them. If they accept it, you have to comply with your offer and pay the amount by a specified date. Also, you must stay in good standing for 5 years after the OIC is accepted. That means no new IRS debt and filing tax returns on time or they can undo the OIC and put the written off balance back on you.

Depends. It might be as easy as setting up an installment agreement with a monthly payment. But if you have had lots of previous installment agreements that were terminated for non-payment it might be hard to stop the garnishment but it can be done.

Hurry and make the missed payment or you can call the IRS and ask to skip a payment. If you call to request a skip payment, they will need a reason. Funds not available is a good reason! Laid off from work or unexpected medical expenses are allowable ones too.

If you have several years of unfiled tax returns, the IRS will only require the last 6 years be filed. The state will want all missing years, but I usually wait for them to ask for years older than the last 6 years. Sometimes they are happy with just the last 6 years. The IRS and state share data. This is how the state will know if they are missing a tax return. The IRS also shares audits with the state. So, if you are audited by the IRS you will need to go ahead and do an amended return with the state for the changes the IRS made to your return.