Streamlined Installment Agreement
Streamlined installment agreements may be approved for taxpayers under the following circumstances:
- The aggregate unpaid balance of assessments is $50,000 or less. The unpaid balance of assessments includes tax, assessed penalty and interest, and all other assessments on the tax modules. It does not include accrued penalty and interest.
- If pre-assessed taxes are included, the pre-assessed liability plus unpaid balance of assessments must be $50,000 or less.
- The minimum payment amount is determined by dividing the unpaid balance of assessments by 72. The IA must resolve all balances due prior to the expiration of the CSED.
More from H&R Block
There are several advantages to getting a streamlined installment agreement. The most important advantage is that the IRS usually won’t file a Notice of Federal Tax Lien if you qualify. Also, the IRS doesn’t request a financial statement to determine whether you qualify.
- If you owe over $50,000, it’s best to pay the balance down to $50,000, so you will qualify for a streamlined installment agreement and avoid a tax lien.
- If you owe over $25,000, the IRS will require that you sign up to have payments directly debited from your checking account to avoid a tax lien.
Get help from an expert
Your local H&R Block tax pro can look into your issue and deal with the IRS for you.
Liens and levies are tools the IRS uses to collect back taxes. Learn more about each one -- and how to avoid tax liens and levies by working with the IRS.
Learn about the different options when you can't pay or still owe money from a past return from the tax experts at H&R Block.
Get the facts from H&R Block about IRS payment options when you can't pay your tax bill, including short-term extensions, monthly payment plans, and more.
Seriously delinquent tax debt can cause your passport to be restricted. Find out if you could be impacted and learn how to fix the problem.
Get the facts from H&R Block about the four types of IRS penalty relief, and which IRS penalty relief option may be best for your situation.
Learn the three main benefits of engaging a power of attorney to research your IRS account and resolve your tax problems. Get the facts from the experts at H&R Block.