Jennifer J Hume, CPA
A Professional Corporation
2385 NW Executive Center Dr, SUite 100
Boca Raton, Florida 33431
(561) 210-5821

Jennifer J Hume, CPA
A Professional Corporation
2385 NW Executive Center Dr, SUite 100
Boca Raton, Florida 33431
(561) 210-5821

Installment Agreements
If you want to make installment payments to the IRS, you have to consider the same things that the IRS considers when offering a monthly installment amount:
1. How much can i afford to pay ?
2.Will the amount I am offering “full pay” the agreement before the statute of limitations expires ?
3.Can the IRS get the tax balance through other means, such as asset sales or by forcing the taxpayer to access other resources.
If you are expecting to make monthly payments, you can’t just call the IRS and give them a number and hope for the best. Instead, you need to do the following:
1. Give them a schedule of your assets (Form 433 - A).
2. Give them your income and expenses (Form 433 -A)
Now comes the hard part. The IRS is going to assume that your expenses can not exceed certain table amounts that they determine based on your income and dependents.
These table amounts are as follows (Click to see each one):
National Standards: Food, Clothing and Other Items
Florida - Local Standards: Housing and Utilities
Local Standards: Transportation
National Standards: Out-of-Pocket Health Care
Unfortunately, these standards don’t always take into account your unique situation:
1. College or Private School Expenses
2. High Medical Expenses
3. High Housing Costs
4. Other Special Expenses
In any event, to get the IRS to allow expenses greater then “the table amount” requires skill and tact the only a professional can provide. Just assuming you can get the IRS to allow amounts greater then the table amount is just not true.
Our method is simple - We listen to what your financial needs are and effectively communicate this need to the IRS. Simply put, everything you communicate to the IRS while everything WE communicate to the IRS isn’t.