Read on to find out how to implement and maintain a valid installment agreement. Form 9465 The first step in implementing any installment agreement is to complete and submit an installment agreement application. This is generally done by filing IRS Form 9465 . This form is usually attached to the front of the individual’s tax return at the time of filing. However, it can be submitted by itself at any time. Taxpayers who you could try this out owe less than $25,000 in taxes, penalties and interest can instead complete an online payment agreement (OPA) application or call 1-800-829-1040. Those who owe more than $25,000 must also submit Form 433-F along with the Form 9465, and this cannot be done online. (For tips on preparing for the tax season, see 10 Steps to Tax Preparation .) Who Is Eligible Any taxpayer owing no more than $10,000 will have his or her application for an installment payment plan automatically approved by the IRS , providing the taxpayer has “timely filed all income tax returns” and has not entered into an installment payment agreement within the past five years. In addition, a taxpayer must be able to pay the entire outstanding balance Look At This within three years.
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