Online Payment Agreements


According to IR-2007-68, the IRS has enhanced the interactive Online Payment Agreement (OPA) application. OPAs allow eligible taxpayers (or their authorized representatives) to self-qualify and apply for installment agreements, receive immediate notification of approval and establish paperless direct debit agreements.

The Service estimates that over 75% of taxpayers eligible to establish an installment agreement can do so using this interactive tool.

The new enhancements provide additional functionality. Individual taxpayers who have not yet received a bill may now establish pre-assessed agreements on current-tax-year Form 1040 liabilities. Also, tax advisers with valid authorizations for multiple clients may maintain their information within the tool while requesting agreements for multiple clients.

The tool can also be found at the top of the right-hand column of the website’s main page (www.irs.gov), in the pull-down menu located under the words, “I need to...,” by selecting “Set Up a Payment Plan.” The application tool is available Monday–Friday from 6:00 am to 12:30 am ET, Saturday from 6:00 am to 10:00 pm and Sunday from 4:00 pm to midnight.

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.