IRS Compliance & PenaltiesAnswered

Can I set up an installment agreement to pay IRS penalties over time?

N7
natasha_7673new member
December 26, 2020 1,080 views 1 answer
installment-agreementpayment-planpenalty-paymentirs-collections

I owe $75,000 in Form 5472 penalties and I cannot pay the full amount at once. Does the IRS offer installment agreements for penalty-only balances? What are the terms and how do I apply? Will interest continue to accrue during the payment plan?

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