What forms do you need to include with IRS installment payments?


Quick Answer

Taxpayers must include Form 9465, Installment Agreement Request and Form 433-F, Collection Information Statement, with installment payments. Citizens must file all relevant tax returns before filing for an installment agreement request. Taxpayers may be eligible for paying tax debts online if they meet certain requirements.

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Full Answer

Form 9465 requires taxpayers to fill in blanks for a name, address and phone number for individuals and businesses. On line 7, citizens enter the total amount owed and then subtract any payment included with the current Form 9465. Filers can then enter the amount they feel they can pay each month.

Form 433-F helps the IRS determine how much a taxpayer can afford to pay based upon someone's assets, liabilities, income, living expenses and financial information. Some portions of Form 433-F must be substantiated if some expenses go above the IRS allowable standards. The agency may ask taxpayers for bank statements, loan statements and proof of income as a means to determine a monthly payment. Those who file Form 433-F may have their payments direct debited from a bank account.

Individuals who owe less than $50,000 in taxes, fees, interest and penalties can apply for an online payment agreement. Information needed for an online payment agreement includes the most recent notice from the IRS, bank account information, tax return information and an employer's address.

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