Streamlined Installment Agreement - Orange County
A streamlined installment agreement is very similar to the automatic installment agreement. If a taxpayer meets the following criteria, they can simply make a phonecall to the IRS and arrange an installment agreement:
• The taxpayer owes less than $50,000
• The taxpayer has not had a back-tax debt or an installment agreement in the last 5 years
• The taxpayer agrees to full pay the liability within 72 months or before the Collection Statute Expiration Date (“CSED”), whichever occurs first. Just like an automatic agreement, with a streamlined agreement the taxpayer does not have to provide any financial information. The taxpayer can create an agreement with just a phone call (or going to the IRS website).
Christopher G. Carmona CPA,CFE
http://carmonataxcpa.com/
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323 707-6148
