9465 Form

Understanding Form 9465: Installment Agreement Request

Form 9465 is a document used by taxpayers in the United States to request an installment agreement with the Internal Revenue Service (IRS). This form is designed to help taxpayers who are unable to pay their entire tax liability in a single payment. In this article, we will discuss the various aspects of Form 9465, including its purpose, eligibility criteria, and the process of completing and submitting the form. Additionally, we will answer some common questions related to Form 9465.

1. Purpose of Form 9465

Form 9465 serves as a request for an installment agreement with the IRS. Taxpayers who cannot pay their entire tax liability by the due date can use this form to propose a monthly payment plan. This allows taxpayers to fulfill their tax obligations in smaller, more manageable amounts over a specified period.

2. Eligibility for Filing Form 9465

In order to file Form 9465, taxpayers must meet certain eligibility criteria. These include:

  • Owing $50,000 or less in combined individual income tax, penalties, and interest
  • Having filed all required tax returns
  • Agreeing to pay the entire tax liability within 72 months or by the Collection Statute Expiration Date, whichever comes first

If a taxpayer does not meet these criteria, they may still be eligible for an installment agreement by contacting the IRS directly and providing financial information.

3. Completing Form 9465

Form 9465 requires the following information from the taxpayer:

  • Name, address, and Social Security Number (SSN) or Employer Identification Number (EIN)
  • Total tax liability and proposed monthly payment amount
  • Preferred payment date and method (e.g., direct debit or check)

It is important to propose a realistic monthly payment amount that can be consistently met by the taxpayer. The IRS may reject a proposed installment agreement if the payment amount is deemed insufficient.

4. Submitting Form 9465

Taxpayers can submit Form 9465 in one of three ways:

  1. Mail: Complete the form and mail it to the appropriate IRS address listed in the form’s instructions.
  2. Online: Visit the IRS website to file Form 9465 electronically using the Online Payment Agreement (OPA) tool.
  3. Tax software: Some tax preparation software may allow users to complete and submit Form 9465 as part of their tax filing process.

5. Approval and Payment Process

Upon receiving Form 9465, the IRS will review the taxpayer’s request and either approve or deny the installment agreement. If approved, the taxpayer will receive a notice specifying the terms of the agreement, including the payment amount, due date, and any applicable fees.

The taxpayer must then make their monthly payments on time to avoid defaulting on the installment agreement. Defaulting on the agreement may result in the IRS taking collection actions, such as levying bank accounts or filing a federal tax lien.

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