I owe 500 dollars to the IRS…Can I pay monthly?
You can set up an installment agreement by downloading the Form 9465 Installment Agreement Request from the IRS website www.irs.gov, the minimum payment IRS will accept for the amount you owe is $25.00, if you chose to mail the payment in monthly IRS charges a one time USER FEE of $105.00; if you chose to pay by direct debit automatically taken from your checking account IRS will charge a one time USER FEE of $52.00; you could be eligible for a reduce user fee of $43, IRS will let you know when they set up the Installment agreement. Interest and penalties continue to accrue while you have the installment. Visit IRS website for more information in obtain an installment agreement. You can set up the installment agreement by calling IRS at 1-800-829-0922 or 1-800-829-8374.
