By greenberg law group, p.a.

Can You Skip An IRS Installment Payment?

Keep reading to learn all about IRS Installment Agreements.

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What happens if you can’t pay your installment payments? Let’s explore the answers

What is an IRS Installment Agreement?

An IA is a payment option for those who cannot pay their total debt at once. It allows taxpayers to settle their bills over time.

Short-term Vs.  Long-term Payments

A short-term payment requires individual taxpayers to pay their debt in 180 days or less. A long-term payment, taxpayers can pay the amount owed monthly for more than 180 days.

Can you skip an IRS Installment payment?

Yes, but there will be consequences. When you miss your installment payment, technically, the IRS can default on your agreement.

When this happens, your payment plan is canceled, putting you back where you started—the obligation to pay the full amount in debt in one payment.

Tips for managing your IRS Installment Agreement

1. Plan to Avoid Payment Issues

2. Communicate with the IRS

3. Seek Professional Assistance

Need Help With an IRS Installment Agreement?  We Are Ready To Partner With You. 

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