I have a friend who owes money to the IRS and wants to know...

Question

...can he set up a streamline installment plan without his lawyer?

Answer 1

yes, just make sure the payment amount is sufficient, if he owes up to $1,499.00 the minimum payment IRS will accept is $25.00 and interest and penalties will continue to accrue until the balance is paid in full.  Any balance over $1,500.00 and below $24,999.00; divide amount owed by 60 and that is the minimum payment IRS will accept (IRS usually accepts 5 years to pay back the balance=60 months)

If the balance is over $25K a form 433F Collection Information Statement is required with the Form 9465 Installment Agreement Request.  

No lawyer is needed as anyone can fill out the forms and submit to IRS.

Call IRS at 1-800-829-0922 or 1-800-829-7650 for assistances.

For more information visit IRS website Keyword: Installment Agreement.

IRS charges a USER FEE Of $105

Answer 2

If the balance is under $25,000 and he can pay within five years, there is no problem.

Answer 3

He doesn't need a lawyer to set up a payment plan.  Contact the IRS.

Answer 4

yes. and no. (I'm guaranteed to be right that way.)

Answer 5

A lawyer is not required. By the way, "Ms Angel's" response is not entirely accurate. The minimum the IRS will accept is based not only on amount owed but on the age of the debt.

Have your friend call the number on the notice and discuss payment options with them.

Answer 6

YES,  it will cost a little to set it up, something like $150 and a they will charge an interest fee each installment, but you can pay it over several years if needed.