Is it easy to get an installment agreement?

Easy is somewhat of a relative term; it means something different to everybody. But there’s a defined process in place with the IRS. You can’t just go to them owing a certain amount of money and agree to pay them an amount of money that you specify. It doesn’t work that way.

You’re going to have to fill out some paperwork for the IRS to demonstrate your ability to pay them. It’s like getting a loan from the bank.

The bank is going to look at your ability to pay them back, while the IRS is in the business of collecting taxes owed to them.

Their job is to collect as much tax as they can, as quickly as they can. So they look at your ability to pay based upon filling out financial forms, looking at your income versus monthly allowable expenses, to determine how much you are going to pay on an installment agreement.

You’re not going to go to the IRS and throw out a number  sayinghis is how much I can afford to pay. No, you’re going to need to fill out some financial information and let the IRS determine how much they will accept and possibly negotiate with them how much you can afford to pay on a monthly basis.