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Video instructions and help with filling out and completing Which Form 2220 Installments

Instructions and Help about Which Form 2220 Installments

So generally speaking millions and millions of people have not paid all the taxes they owe the IRS and they're going to pay those taxes back through monthly installments this is something you need to get permission from the IRS to do and it can be relatively painless and easy or it can be extremely difficult and hard generally speaking the process is as follows as long as you're current with your taxes going forward so from today forward you're paying all of your taxes on time and as long as you file all your missing tax returns you current with all your paperwork the IRS will let you enter into an installment agreement to pay you back your taxes through a monthly payment plan the amount of the payment is going to be determined by them and they're going to base that on a financial analysis in most cases so they're going to look at your they have out standard financial forms that you fill out for this they're going to look at your gross income you're going to have to prove your gross income to them your monthly gross income from that number they're going to subtract your necessary living expenses now the IRS has you can go to their website WWI RS gov and you can look at their standards they have collection standard expenses that they grant to somebody who is delinquent in their taxes so they'll give you so much for housing and utilities so much for food so much for insurance etc so from your gross monthly income you subtract those expenses up to IRS limits they only give you so much for housing they only give you so much for utilities etc that'll leave a monthly surplus number so income minus expenses there's...