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IRS Installment Agreement – Virginia

A childcare business located in Virginia hired Timberline tax for overall account representation and resolution due to the Internal Revenue Service coming after the business and the business owner.  The Associate on the case filed for a hold of enforced collection action while a full financial analysis was completed. It was found an Installment Agreement would be the best resolution but due to the income flow of a childcare facility the agreement was broken up to start with payments of $49.00 for the summer months and then increasing to a monthly payment of $610.00 per month in the fall. After some negotiations with the Revenue Officer, the Installment Agreement was finally approved on a liability of $72K.                                                                                                                                                                                                                            

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