#1 Issue With IRS Installment Agreements

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ABOUT JASMINE DILUCCI, JD, CPA, EA

Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.

Now as a tax attorney and CPA, she works with individuals and business owners across the nation to on Tax Planning, CFO Advisory, and IRS Tax Resolution

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Disclaimer: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.

# # #jasminedilucci

[Joeh]

This is the channel we never knew we needed. Thank you for your posts.

[jakecanales]

I have payment plan on “to do” list for next week, when this popped up. Answered my questions, and helped me figure the math. Thank you, Heavenly Father for blessing this Woman with amazing wisdom. Continue to bless her, her family, and all that she does, as she cultures n to help others. Lord be glorified in the praises of your people! In King Jesus’ mighty name!! Amen. 🙏🏻

[JimDean]

I knew someone in about 96 who owed around 105k. He pretty much ignored it until they took his check. It was a suburban community and everybody told him to go see this one guy who used to work for the IRS. Apparently he got the right guy. Within 2 days he had his check and he had a payment agreement of $35 a month. Didn't even cover the interest and he knew he'd pay it for the rest of his life but he was in his '70s so he didn't care.
He did tell him that he had to get right because he couldn't do it again. From that day forward until he passed away. He paid him 35 bucks a month and made us regular tax payments. (He was 1099)

[CleanRapMusic]

Penalty and interest still apply when you defer paying your debt via an installment arrangement.

[paulward]

They will also “misplace” your payments and force you to pay again whiling telling you that it’ll get figured out and a refund check will be a mailed. Still waiting for a 2000$ over payment from 2020

[fitpro]

She's the tax goat! Just needs way better audio.

[trtrtre]

Yes, they won’t require you to file a collection information statement, but they will require a determination for the filing of a Notice of Federal Tax Lien, which is not ideal.

So, in general, you’d want to get your overall balance due to less than $50, 000 so that no potential Notice of Federal Tax Lien would be filed and no collection information statement would be required. Then, you can apply for a Streamlined Installment Agreement and get approved with relative ease.

[steadyphil]

Jasmine, if you're able to respond to this I would greatly appreciate it--where in the tax code (or on the IRS website) does it state this about the $250K limit? Would love to redo my installment agreement with this new policy.

[SBayne]

The other issue is they take sometimes over a year to officially approve them.

[lisaiorio]

I hated doing financial on the phones.

[hypnauticasleepsounds]

Wow that is actually useful to know . Thank you

[carmellam.]

Is the agents or customer service representative (CSR). Usually, agents do not answer calls for general questions; that's CSRs. If you're talking to an agent, you're being audited or talking to a collection agent.

[Thatonedude-mv]

What's the point of IRM Exhibit 5.14.1-5

[purplecadence]

i love the way she wears her hair T, T

[lordraiden]

I'm 6, 000 in debt and every year I have to pay more money. It's now $96 a month. I want tax relief but to me that just means someone else pays the IRS and tries to give me a better rate

[jeremyr]

Gustapo rules give us all your money and your assets

[newoperation]

This is why the IRS NEEDS TO BE DEFUNDED

[Wombattery_]

What's an installment agreement? Is that money you owe the IRS?

[gregjock]

as it turns out slavery is allowed for accountants.
thanks to the 16th amendment.
try paying your taxes on your own.
try not paying your taxes.
16th amendment is defacto slavery.
accountants profit imminsley off your labor thanks to the 16th amendment.

[DeusEx.Machina]

Which is insane. Anytime you’re establishing a line of credit, you SHOULD HAVE to prove that you can pay it back.