“Part Pay” Installment Agreements

The continuing hostility of the IRS bureaucracy toward offers in compromise, and the recent decision of the Congress to severely restrict the avail­ability and usefulness of bankruptcy, may combine to place more emphasis on installment agreements. But some taxpayers, particu­larly those with large tax debts involving multiple tax years, may find that they can’t meet the requirements of the traditional installment agree­ment. This is because installment agreements are required to…