This is the taxpayers, most commonly used option when repaying an outstanding tax debt to the IRS or your local state goverment. An Installment Agreement is one of the most easily obtained plans from the IRS. With this agreement in place you will have to make monthly payments to the IRS until the entire debt is re-paid, and within the limits of three years.:)
Negotiating a Partial Payment Installment Agreement will enable the taxpayer to make low monthly payments to the IRS, but the payments do not cover the entire tax liability, This course is only exercised when the taxpayer meets certain criteria to qualify for this program. When A Taxpayer Dosn't Qualify for a offer in Compromise, the taxpayer may qualify for this.
Negotiating a Short Term Payment Extension may be an option for the taxpayer to gather assets together to make an offer to the goverment. For this to work the taxpayer must notify us that they would like to file for an appeal and that at the end of the extension the taxpayer will have the neccesary capital to pay off there entire tax liability in full.