Installment Agreements

Tax Attorneys to Assist with Installment Agreements

Do you owe a large tax debt to the Internal Revenue Service or to the State of New Mexico? Do you want to pay your taxes but need to spread the payments out? Here at Business Law Southwest, LLC, we work with our clients to set up payment plans (or “installment agreements”) with the IRS and with New Mexico’s Taxation and Revenue Department (or “TRD”). We can help negotiate with the relevant taxing authority to help spread out your tax payments over a term of months or, in some cases, even years, stopping collections and often eliminating tax liens in the process. We help people get on the path to paying off their tax debt. Give us a call today and see how we can help you do the same.

What is an Installment Agreement?

An “Installment Agreement” is a payment plan or agreement with the IRS to pay the taxes you owe within an extended timeframe. You should request a such a payment plan if you believe you will be able to pay your taxes in full within the extended time frame, and reaching such an agreement with the IRS (or state or local taxing authorities) can help avoid tax liens or levy actions.

Do I Qualify for an Installment Agreement?

Provided you aren’t already in default of an Installment Agreement with the IRS, the chances are the IRS will accept a payment plan depending on the specific circumstances.