Form 9465: Installment Agreement Request
Form 9465, also known as the Installment Agreement Request, is an official document used by taxpayers to request a payment plan from the Internal Revenue Service (IRS) for outstanding tax liabilities. It allows individuals who cannot pay their taxes in full by the due date to spread their payments over a set period.
Who Should Use Form 9465?
Form 9465 is ideal for taxpayers in the following situations:
Unable to Pay in Full: If you owe taxes but lack the resources to pay the entire amount at once, an installment agreement can help you manage the debt and avoid penalties associated with non-payment.
Financial Hardship: Facing unexpected financial hardship can make paying taxes difficult. An installment agreement allows for a more manageable payment schedule during challenging times.
Alternatives to Form 9465
While Form 9465 is a valuable tool, it's not the only option for setting up an installment agreement with the IRS. Here are some alternatives to consider:
Online Payment Agreement (OPA): If you owe $50,000 or less in taxes, you can apply for an installment agreement directly through the IRS website using the Online Payment Agreement (OPA) tool. This option often comes with a lower user fee compared to filing Form 9465. (https://www.irs.gov/payments/online-payment-agreement-application)
How to File Form 9465?
Step 1: Download the Form: You can download the latest version of Form 9465 attached below.
Step 2: Complete the Form: Carefully fill out the form, providing accurate information about your tax liability, proposed monthly payment amount, and financial situation.
Step 3: Attach Required Documentation: Attach any supporting documentation that strengthens your request, such as recent pay stubs or bank statements demonstrating your financial hardship.
Step 4: Submission Options: There are two ways to submit Form 9465:
- Mail: Send the completed form along with any supporting documents to the designated IRS mailing address listed on the instructions.
- Fax: You can also fax the form to the IRS using the number provided in the instructions.
What is the Approval Process for Form 9465?
The IRS will review your request and financial information after receiving Form 9465. They will then notify you of their decision by mail. The approval process typically takes 30 to 60 days.
Is There a Fee for Filing Form 9465?
Yes, there is a user fee associated with filing Form 9465. The current fee is $120 (as of May 2, 2024). This fee can be waived for low-income taxpayers who meet specific criteria outlined by the IRS.
What Happens if My Installment Agreement Request is Denied?
If your request is denied, the IRS will explain the reasons in their notification letter. You can choose to submit a revised proposal addressing their concerns or explore other options for resolving your tax debt, such as an Offer in Compromise.
What is the Maximum Length of an Installment Agreement?
The IRS typically approves installment agreements lasting for 72 months (six years) or less. However, the specific timeframe will depend on the amount of your tax debt and your proposed monthly payment amount.
What Happens if I Miss an Installment Payment?
Missing a payment can jeopardize your installment agreement. The IRS may reinstate the agreement if you make the missed payment and any additional late fees promptly. However, repeated missed payments can lead to the IRS resuming collection actions.