The IRS has expanded streamline installment agreements until September 30, 2017. Instead of the needing less than $50,000 of taxes due, the IRS increased the amount to $100,000 of tax, interest, and penalties due.
In addition, the IRS will accept the installment agreement if the payments is the greater of the amount due divided by 84 (instead of 72) or the amount necessary to collect the tax in full before the collection statute runs.
Remember, taxpayers with the ability to pay their taxes in full can still qualify for these streamlined installment agreements.
Relevant Citations: IRS: Streamlined Processing of Installment Agreements
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