What is a Regular Installment Agreement?

Used when the taxpayer does not qualify for streamlined or automatic terms, the taxpayer will be required to submit full financial disclosure using IRS Forms 433-A, 433-F, 433-B, or 433-H. The IRS reviews income, expenses, and assets to determine the payment amount. If the amount of the monthly payment will result in full-payment the IRS will set up the agreement, which is called a \”Regular Installment Agreement.\” If the taxpayer\’s ability to pay will not result in full-payment, the IRS will still set-up the agreement but it is called a \”Partial-Pay Installment Agreement,\” or \”PPIA,\” and the IRS may contact the taxpayer every 12-18 months to revisit their ability to pay to see if they can increase the monthly payment.