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Streamlined Installment Agreement Program Modified - Emil Estafanous, CPA : Emil Estafanous, CPA

Streamlined Installment Agreement Program Modified

The IRS Small Business/Self-Employed Division mutated a limit delinquent change of comment taxpayers contingency accommodate to validate for a streamlined installment agreement module and extended a time for remuneration (SBSE 05-0112-013). The total delinquent change of comment threshold has doubled, from $25,000 to $50,000. The timeframe for full remuneration has been extended from 60 months to 72 months.

Just final February, a IRS increasing a threshold from $10,000 to $25,000. (See “IRS Announces Changes to Lien Process.”) 

Only people and out-of-business solitary proprietors will validate for a streamlined installment agreement when a delinquent change of comment is $25,001 to $50,000. Individuals, businesses that record Form 1120, U.S. Corporation Income Tax Return, and other forms of businesses that are out of business can validate for a streamlined installment agreement for income taxes if their delinquent change of comment is $25,000 or less.

All agreements for delinquent balances of some-more than $25,000 contingency be determined as approach withdraw installment agreements.

About Emil Estafanous, CPA
Certified Public Accountant (CPA) Tax Professional committed in representing taxpayers and resolving their tax problems.

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