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Video instructions and help with filling out and completing irs form 9423 mailing address
All right so let's go on now we're gonna start talking about an installment agreement now the context of the discussion here is emergency measures to stop collection the single best way to do that is file a timely CDP request like we talked about already but you don't always have that luxury because it depends on when the client walks into your office and what stage of the procedure your client is in at that particular point in time as I said a lot of clients have blown their their opportunity for a CDP hearing and so now you've got to try something else so one of the other very effective strategies and I'll tell you this is something that almost nobody knows about getting back to the question I answered a minute ago is is is when you read original source material you discover things and you learn things that most people don't know and and and this is important with respect to an installment agreement the under the law under the Internal Revenue Code the application for an installment agreement stops enforced collection action it operates as an injunction against the IRS from levying or seizing assets and so this is a tool that you need to be aware of to help you stop collection action and get you into a position where you can negotiate with the IRS on behalf of your client you need to use IRS form 9465 to do this I shouldn't say need because any kind of an application for an installment agreement will stop collection action if you put it in writing if you call the IRS on the phone which I don't recommend by the way but I do like to use this form 9465 because it takes the confusion out of it in the process of applying for an installment agreement you're gonna have to prcurrent financial information to the IRS we're gonna talk about that in just a minute a streamlined agreement does not require information a streamlined agreement falls into one of two categories if your client owes less than $50,000 to the IRS and can pay within 72 months you do not have to prfinancial information in order to get that agreement established if the client owes between 50 and up to a hundred thousand and can pay within 80 four months then again that constitutes streamlined and they don't have to prfinancial information but financial information is typically an important part of the process and so and so we're gonna have to get into that now as I said collection is stopped while the application is in effect and so when you file the request for an installment agreement they can't the IRS can't seize if the installment agreement is accepted the IRS cannot levy or seize any assets while the agreement is pending so as long as your client is making the payments and living up to the terms of.