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JanMV21
New Member

How long can I expect the IRS to file a lien for taxes owed? My business is slow due to inflation and I can't pay my entire amount owed. I did pay some.

 
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How long can I expect the IRS to file a lien for taxes owed? My business is slow due to inflation and I can't pay my entire amount owed. I did pay some.

You will get at least 3 notices before that happens but that third notice it to alert you the fact that the accounts are already frozen.  Get on a payment plan and stick with it is the best and only play you have. 

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3 Replies

How long can I expect the IRS to file a lien for taxes owed? My business is slow due to inflation and I can't pay my entire amount owed. I did pay some.

You will get at least 3 notices before that happens but that third notice it to alert you the fact that the accounts are already frozen.  Get on a payment plan and stick with it is the best and only play you have. 

Hal_Al
Level 15

How long can I expect the IRS to file a lien for taxes owed? My business is slow due to inflation and I can't pay my entire amount owed. I did pay some.

The Turbotax help topic at this link explains how to set up a payment plan:

https://ttlc.intuit.com/community/tax-payments/help/can-i-set-up-a-payment-plan-for-my-taxes/00/2651...   

 

Also see

http://www.irs.gov/pub/irs-pdf/f9465.pdf form

https://www.irs.gov/pub/irs-pdf/i9465.pdf  instructions.

To request an installment plan Fill out form 9465 to request the installment plan, and mail it in. It can also be submitted on line at www.irs.gov

 

Or: http://fairmark.com/2010/08/11/do-you-owe-the-irs/

As you go through the efile process you will get to a screen How Do You Want to Pay Your Federal Taxes?, one of the options is to set up a Payment Installment plan (form 9465). You can also apply online on the IRS website, go to IRS.gov, click the "I need to....", and select "Set-Up a Payment Plan". For more information regarding the Payment Installment agreement see the following
http://www.irs.gov/taxtopics/tc202.html

JanMV21
New Member

How long can I expect the IRS to file a lien for taxes owed? My business is slow due to inflation and I can't pay my entire amount owed. I did pay some.

Thank you for your reply, you are very helpful and just what I needed.  I know how to set up a payment plan but really don't want to do it just yet.  I think I will have plenty of time to do it now before they file a lien.  It's been a while since I couldn't pay it in full or at least by the end of the year.   

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