In-Business Trust Fund Express Installment Agreements
Small businesses that currently have employees can qualify for an In-Business Trust Fund Express Installment Agreement (IBTF-Express IA). These installment agreements generally do not require a financial statement or financial verification as part of the application process. To qualify for an IBTF-Express IA:
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The taxpayer can owe no more than $25,000 at the time the agreement is established. If more than $25,000 is owed, the taxpayer may pay down the liability before entering into the agreement in order to qualify.
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The debt must be fully paid within 24-months or prior to the Collection Statute Expiration Date, whichever is earlier.
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The taxpayer must enrol in a Direct Debit instalment agreement if the amount owed is between $10,000 and $25,000.
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The taxpayer must be compliant with all filing and payment requirements.
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To Request an IBTF-Express IA call the phone number on the bill received from IRS or complete IRS Form 433-B, Collection Information Statement for Businesses and call the IRS immediately at 800-829-4933, or contact the Field Collection Revenue Officer assigned to the taxpayer’s case.