Unsustainable Monthly Payment to IRS Nearly Cut in Half

The Back Story:

---

Individual from Matteson, IL

Our taxpayer had unpaid assessed federal Form 1040 liability for six years in the total approximate amount of $75,000, inclusive of penalties and interest.  We previously negotiated an installment agreement with the IRS in the amount of $750.00 per month on behalf of our taxpayer.  Unfortunately, our taxpayer did not honor all of the terms and conditions of the installment agreement and the IRS subsequently defaulted the installment agreement.  We analyzed our taxpayer’s updated financial situation and convinced the IRS to reinstate the installment agreement with a reduced payment in the amount of $400 per month.  Now our taxpayer in enjoying an installment agreement payment he can afford and does not have to worry about the IRS taking enforced collection action against him.