How long will I have to pay on my Installment Agreement?

If you have an installment agreement, you need to determine how much you are going to pay on a monthly basis, which we have covered in other segments.

But once you start paying on your Installment Agreement, you’re going to need to pay until the payments that you make on your installment agreement fully satisfy the amount that the IRS says that you owe.

The only exception to this would be when the statute of limitations comes into play.

The IRS only has 10 years from the date of assessment (when the taxes were actually assessed which means when they were filed either by you or the IRS), not when they were due.

That’s because they might have been due several years before that.

You’re only required to pay the tax until the 10-year statute of limitations runs out.

So the answer to the question is twofold.

(1) You’re going to pay the full amount of the tax because the amount of tax that you’re paying on a monthly basis will fully pay the tax off within the 10 year statute of limitations or

(2) based upon the amount that you’re paying on a monthly basis, there’s not enough time remaining in the statute to fully pay the installment agreement in full.