Are Irs Form 13844 Categories 2025

In an earlier video, I discussed the three types of installment agreements. However, in this video, I will focus on the streamline installment agreement. A streamlined installment agreement is used when a taxpayer owes $50,000 or less and can fully pay the obligation within 72 months. The IRS breaks up the payment into equal monthly installments, making it a simple process. Unlike other installment agreements, you don't need to provide any collection financial statement information such as a 433 f or a 433 a and B. Instead, you can simply offer to pay the IRS the full amount within the 72-month period. This is part of the Fresh Start initiative and offers an exciting opportunity for taxpayers. Additionally, there is provision for the withdrawal of a federal tax lien if you opt for a streamlined installment agreement and make your first three payments by direct debit. Direct debit is a program where the IRS automatically withdraws the installment agreement payments from your bank account. In the past, this program had issues, but it seems the IRS has resolved these problems. This could be a great opportunity for individuals with tax liens to get them withdrawn. By choosing the direct debit option and making timely payments, the IRS should automatically withdraw the notice of federal tax lien filed against you. This can be beneficial when it comes to selling or buying a house and improving your credit rating. Typically, a notice of federal tax lien can negatively impact your credit rating by about 50 points or more. If you have any questions regarding this matter or any other IRS problem resolution, I invite you to visit our website at GetIRShelp.com.