Friday, April 24, 2015

A Minneapolis Tax Attorney Can Share Options for Those in Severe Debt

Installment Plans If there is no way around paying, most people will have to set up some kind of a payment place with the IRS. Provided you have never been in trouble with the IRS before, they are usually willing to set up an installment plan in which you can pay a small sum of the total each month until it is entirely paid off. Depending on the amount owed, this could only take a few months. If you’re severely in debt, it could take years. If you owe less than 25,000 dollars, it’s generally pretty easy to set up an installment plan. If the balance owed exceeds 25,000 the process will become more involved and it might be more difficult to set something up.

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