The Internal Revenue Service has added new features to its Online Payment Agreement Application, making it easier for taxpayers and practitioners to modify existing installment agreements for paying tax debts to the government.
The system now allows individuals to revise due dates and amounts on existing agreements. They can also revise the extensions to regular and direct-debit installment agreements, and alter an existing regular installment agreement so it's paid through a payroll deduction or a direct debit on a bank account.
Practitioners who have valid authorizations can use the signature date on an approved Form 2848, "Power of Attorney and Declaration of Representative," or the caller ID, as an alternate authentication method when they request agreements for their clients.
The IRS launched the online application in October 2006. More than 30,000 taxpayers have signed up so far. Eligible taxpayers who owe $25,000 or less in combined tax, penalties and interest can apply online and receive immediate notification of approval for installment agreements, according to the IRS.
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