The Peck Group, LC
  • Comprehensive Tax Law Representation Since 1995

    We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

  • Problems With The IRS Or State Tax

    Our attorneys are committed to providing efficient and effective tax solutions for individuals and businesses in Georgia and nationwide.

  • Planning For The Future

    Our lawyers help individuals and businesses with all aspects of estate and tax planning. We help our clients use proactive strategies to minimize tax implications in the future

  • Changing The Balance Of Power

    Does it feel like the government has all the power? Taxpayers have rights, too. We use our knowledge of tax law to shift the balance of power and ensure that your rights are protected.

  • Tax Solutions … And Peace Of Mind

What to do when you can't pay the taxes you owe

You finish filing your income tax return, when you're met with a harsh surprise: you owe more than you'd expected. A lot more. In fact, you're not sure how you're going to pay it. What do you do?

Fortunately, the IRS has created some options for tax payers in your situation. You can set up a plan to pay off your taxes in installments. We've laid out two common, long-term payment plans below:

Guaranteed installment agreement:

This agreement is for individuals with a tax liability of $10,000 or less. With this plan, you get three years to pay off the money you owe. You can calculate the minimum monthly payment by taking the total owed divided by 36 months.

You can apply for this type of agreement if, over the past five years:

  • You've always filed your tax return,
  • You've paid the taxes you owe and
  • You haven't entered into another tax installment agreement.

Streamlined installment agreement:

If you owe more than $10,000--or if you need more than three years to pay off the taxes you owe--a streamlined installment agreement might be a better option for you. This type of agreement gives tax payers six years to pay off taxes up to $50,000. To calculate the minimum monthly payment, take the total tax liability and divide by 72 months.

If you owe more than $25,000, there are some limitations to this agreement:

  • Corporations that are still in business cannot apply.
  • Tax payers must submit payment either by direct debit or payroll deduction.
  • Tax payers must have no defaulted payments on an installment agreement over the previous 12 months.

Contending with IRS debt can be stressful, but an experienced tax attorney can help to ease the process.

No Comments

Leave a comment
Comment Information
Email us for a Response

Talk to an Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

The Peck Group, LC
5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
Atlanta Law Office Map

Payment Cards