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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 40397
Experience:  Taxes, Immigration, Labor Relations
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G elsey asI have a installment agreement for 500 dollars a

Customer Question

Hi my name is ***** ***** elsey as###-##-####I have a installment agreement for 500 dollars a month I have to miss this month's payment I'm a truck driver and my truck is broke down for 2 weeks now it's just the one payment though can I miss. a month then recover the next month thc
JA: Have you talked to a tax professional about this?
Customer: No not yet I thought I could just talk with you thx
JA: Anything else you want the Accountant to know before I connect you?
Customer: No thx
Submitted: 14 days ago.
Category: Tax
Expert:  Lev replied 14 days ago.

The missing installment payment is not good.

The risk is that the IRS may terminate your installment agreement - and will start garnishment of your income and may levy on your assets and bank account.

You may want to avoid such situation.

You have several options available if your ability to pay has changed and you are unable to make payments on your installment agreement or your offer in compromise agreement with the IRS.

Call the IRS immediately at 1-***-***-****.

Options could include reducing the monthly payment to reflect your current financial condition.

You may be asked to provide proof of changes in your financial situation so have that information available when you call.

Let me know if that is clear.

Do not delay your call to the IRS - call as soon as possible.

Expert:  Lev replied 11 days ago.

Have I answered all your questions?

If so, please remember to accept my response and click the stars above to post a positive rating so I get credit.

If you still need any clarification - be sure to ask