The partial payment installment agreement (PPIA) was created for the financially trouble taxpayers that cannot make the monthly payment that is required with a normal installment agreement. Once a taxpayer is enters into a partial payment installment agreement, he or she is considered in good standing with the taxing authorities. With a partial payment installment agreement, it is a possibile that the Collection Statute Expiration Date (CSED) will pass prior to the total amount of taxes being paid. Therefore, the taxpayer will not end up paying the entire tax balance. A PPIA is a great alternative if an Offer In Compromise has been rejected or if the taxpayer does not qualify for an Offer In Compromise.
How Our Partial Payment Installment Agreement Service Works
Qualifying for this type of agreement requires a significant amount of financial data about your tax and financial situation. Before making a determination if you qualify, we will do a detailed financial interview about your situation and run against our computer models to determine which types of settlements the IR or your state taxation authorities would consider for your situation.
We will double check your tax returns to see if you received the maximum allowable deductions and credits if we make the determination that this type of agreement would be best for you. If possible, we will file an amended return to reduce taxes owed further. We will also check to see if you qualify for an abatement of tax penalties so some or all of your penalties can be waived. We will then proceed to file the detailed financial statements that are required with the filing and submit them to the taxing authorities for approval.
Why Select Us for Help With a PPIA?
We make sure to keep your financial interest in mind to get you the best outcome for your situation. Our experienced tax team specializes in dealing with complex tax problems and uses some of the best financial tax modeling software available to help determine the best way to resolve your unique tax problem.