Form 9465 is an important document issued by the Internal Revenue Service (IRS) that enables individuals to set up a payment plan for their tax liability. This form can help taxpayers make their payments in manageable installments instead of making one large lump-sum payment.
By filing Form 9465, taxpayers can avoid additional fees and penalties charged by the IRS for late or missing payments. Additionally, it provides a way for taxpayers to become compliant with their tax obligations without having to endure the stress and hassle of dealing with a single large payment. Form 9465 helps to reduce financial hardships and allows taxpayers to remain compliant with the IRS despite their current financial situation.
With an installment request made via Form 9465, which you can obtain a copy of from this page, you can set up a reasonable payment plan that will work for you and the IRS. Be sure to thoroughly review both forms and double check for accuracy before submitting, and you should be well on your way to getting your IRS debt under control.
Form 9465 is the form you will use to request an Installment Agreement from the IRS. It’s essential to be as thorough and accurate as possible when completing this form. You’ll need to specify the amount you owe, your anticipated payment plan, how much you intend to pay each month and other information about your finances. Be sure to double check your entries for accuracy before submitting, as any mistakes could cause delays in processing your request.
Once you receive notification from the IRS that your request for an installment payment agreement has been approved, it’s important to ensure that you stay current on your payments. You can request to make your installment agreement payments through a payroll deduction agreement if desired. You’ll want to make sure to keep your payment information and records organized and updated, as the IRS will send future correspondence regarding your payments based on this information.
Part I contains the actual request where you enter your personal details such as your full name, social security number, spouse’s name (if it is a joint return), address, and contact details. You will also need to indicate the total amount you owe and the amount you can pay each month.
Part II is where you’ll put additional information, such as when you defaulted on an installment agreement in the past 12 months, you owe the IRS between $25,000 to $50,000, or if the minimum monthly payment you can make is less than the installment computation based on the total amount owed. If you owe more than $50,000 you will be required to complete and attach Form 433-F.
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