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I had made an agreement to pay $350.00 a month to pay our tax debt for 2008, but now find that I can't afford that amount. Is there a way to lower that payment? Also, I have asked numerous times to be sent a form to have fed taxes taken out of my long term disability check, but Sun Life Financial has not sent me the form. Is there an IRS form I can use to send to them so taxes will be withheld? thank you for your time and trouble. best regards, XXXXX XXXXX
Hello guru, If you can no longer make these payments due to a change in your financial condition, you need to contact the IRS immediately in order to try and arrange for a lower monthly amount to be paid. They will require that you fill out a new informational statement with details of your current income and expenses. In the meantime, you should try to stay current on the payments which you have committed to until such time as a new payment plan is approved. As far as a standard IRS form for use in having taxes withheld, you can submit to them Form W-4S, which is to request withholding on sick pay from a third party payer. Disability payments would fall in this same category. Here is a link to that form. http://www.irs.gov/pub/irs-pdf/fw4s.pdf If this was helpful please press the Accept button. Positive feedback is also appreciated. Thank you guru, and let me know if you have more questions.
Accountant
25+ years tax consulting. Specializing in returns for US citizens living abroad