What is Installment Agreements (Ias)?
Installment agreements (IA’s) are a widely used tool for tax collection. They are generally used when you are unable to pay the tax but you can pay enough each month to pay off the tax in a reasonable amount of time ─ generally no more than five years. Frequently, the amount paid monthly does not even cover the accruing interest. If this is true in your case, you should consider an Offer In Compromise. If you do not meet the requirements for an automatic installment agreement , the IRS will likely require you to provide some information regarding your monthly income and expenses. In most cases they will require you to complete Form 433-A (and Form 433-B if you are self-employed).
