IRS Installment Agreement Help

Can’t Pay Your Tax Bill in Full? An IRS Installment Agreement Can Help.

Owing money to the IRS doesn’t mean you have to pay it all at once. An IRS Installment Agreement — also called a payment plan — lets you pay your tax debt over time in manageable monthly installments. At HofflerSmith Financial Services, we help taxpayers in Cherry Hill, NJ set up payment plans that fit their budget and protect them from aggressive IRS collection actions.

Types of IRS Installment Agreements

• Guaranteed Installment Agreement — If you owe $10,000 or less and have filed all required returns, the IRS must accept your payment plan application. Terms are typically 36 months or less.
• Streamlined Installment Agreement — For balances up to $50,000, the IRS offers a streamlined process that doesn’t require a full financial disclosure. You get up to 72 months to pay.
• Non-Streamlined (Full Pay) Agreement — For balances over $50,000, the IRS requires a Collection Information Statement (Form 433-A or 433-F). We prepare this documentation and negotiate terms on your behalf.
• Partial Payment Installment Agreement (PPIA) — If you can’t afford to full-pay your debt within the collection statute, a PPIA lets you make lower monthly payments and potentially have the remaining balance expire uncollected.

What Happens While You’re on a Payment Plan

Once an installment agreement is in place, the IRS suspends most collection actions — including wage garnishments, bank levies, and liens (though the lien may already be filed). Interest and penalties continue to accrue on the unpaid balance, which is why we also advise on strategies to pay down the debt efficiently.

Why Work with HofflerSmith?

As Enrolled Agents, we’re federally licensed to represent taxpayers before the IRS at every level — including appeals and collections. We know which agreement type fits your situation, how to complete the paperwork correctly, and how to negotiate terms that the IRS will approve. We handle the communication so you don’t have to deal with the IRS directly.