At Sentinel Tax Relief, our team is proud to help individuals and businesses with their IRS tax debt and state tax debt through installment agreements. We will work with the IRS collections to find a payment plan that works for you. Contact our office in Ocala, FL today to learn more about IRS collection agreements or schedule a free consultation!
There are Several Types of IRS Tax Payment Plans
Guaranteed Installment Agreement
You have the right to an agreement without submitting a financial statement if:The amount of tax you owe (not counting interest and penalties) is less than $10,000.You (and your spouse, if you filed a joint tax return) have filed and paid all taxes due for the last five years.Neither you (nor your spouse, if you filed joint) have had a payment agreement with the IRS in the previous five years.You can pay the full amount you owe within three years.You agree to pay the liability before the collection statute date expires.You comply with the tax laws during agreement.
Streamlined Installment Agreement
There are two types of Streamlined Agreements, depending on how much and what type of tax you owe.
Assessed tax liability under $25,000 (include all assessed tax, penalty and interest in computing the balance due).
This type is available to:
Individuals; Businesses that are still operating and only owe form 1120 income tax or form 1065 late filing penalties; andBusinesses that have gone out of business that owe any type of tax. 
Tax liability from $25,001 to $50,000 (include all assessed tax, penalty and interest in computing the balance due).
This type is available to:
 Individuals; and out-of-business sole proprietors.(Note: To get this type of agreement, you must pay through either a direct debit or payroll deduction agreement.)  
For both types, you must pay the debt in full within 72 months and within the time limit for the IRS to collect the tax.You are not required to submit a financial statement.
In-Business Trust Fund Installment Agreement ;
These may be granted if the unpaid balance is less than $25,000.Taxpayers who owe more than $25,000 can be considered if they reduce the amount owed via making payment below $25,000.
Routine Installment Agreement
routine installment agreements are when the type of debt is not eligible for any other type of payment plan.
If you don’t meet criteria for guaranteed, streamlined, or in-business trust fund express installment agreements, you can still request an installment agreement from the IRS. 
Partial Payment Installment Agreement
With a partial payment installment agreement, you must have some ability to pay your tax liabilities but make payment in full within the remaining time the IRS has to collect. The IRS may allow you to make payments until this collection period expires. If you’re in this situation, you may qualify for an Offer in Compromise to settle your taxes.