Get Real Tax Relief Enjoy IRS Payment Plans

Costs and Considerations

While IRS payment plans offer significant relief, it's important to be aware of the costs involved. For instance, there may be setup fees for installment agreements, which vary based on the type of plan and your payment method. However, low-income taxpayers may qualify for reduced fees or even fee waivers. Interest will continue to accrue on your unpaid balance, so it's in your best interest to pay off the debt as quickly as possible.

If you're considering an Offer in Compromise, be prepared for a thorough evaluation of your financial situation, as the IRS will only accept offers that reflect your true ability to pay. This option requires careful consideration and often the guidance of a tax professional to ensure you meet all the criteria.