State Of Michigan Income Tax Installment Agreement

You must inform the court of your income and expenses if you apply for the instalment payment plan. The IRS will continue to assess interest and penalties against you, while your instalment payment contract is in effect. The IRS will also keep all refunds of your tax returns and apply them to your tax assets. In the case of instalment payment agreements with a duration of less than or less than 24 months, you must complete, sign and return the instalment payment agreement (Form 990). The agreement requires a proposed payment amount, which will be reviewed by the Ministry of Finance for approval. All highlighted parts of the form are required and must be fully completed before considering your application for a instalment payment contract for approval. If the necessary areas are not completed, this results in a delay in processing and collection efforts continue. A instalment payment plan does not protect you from other seizures such as bank account seizures or tax refunds. For more information about seizures, see toolkit I am Being Garnished for a Debt that Is Not Child Support.

The taxpayer can also call 517-241-5060. They can also contact a licensed tax advisor to set up a plan on their behalf. If the Michigan Accounts Receivable System has contacted the taxpayer, the taxpayer should contact the taxpayer directly to request or set up a instalment payment agreement. If you wish to make an offer, use the ICO booklet, Form 656-B, to receive the instructions and all the forms you need. Your file must contain your completed forms, the non-refundable registration fee of $186 and the initial non-refundable payment for each Form 656. The fee and payment(s) apply to your tax debt. Your choice of payment, either lump sum or periodic payment, determines your initial payment amount. If you have a low income, you may not have to send the application fee, first payment, or monthly payments while the IRS verifies your OCI. You can ask the court to include a payment plan in the judgment if none has yet been issued. Once a judgment has been rendered, you can submit a request for payment in instalments. Depending on your specific tax questions or the amount of taxes you owe, the IRS may assign your file to a financial agent. If your file is assigned to a financial agent, you work directly with that person to clarify your taxes and enter into a payment agreement in instalments.

An income agent asks you to send your financial information with all your support information. You can also require you to liquidate a portion of your assets to apply for your tax debt before justifying your instalment payment agreement.. . . .