Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
IRS adds functions to online payment application
WASHINGTON (6/9/08)—The Internal Revenue Service (IRS) Friday introduced several new features to its interactive Online Payment Agreement application intended to make it easier for taxpayers, or their authorized representatives, to make changes to existing installment agreements. According to an IRS release, the system will now permit individuals to revise:
* Their payment due dates and/or amounts on existing agreements; *E xisting extensions to regular installment agreements and direct debit installment agreements; and * Existing regular installment agreements to a payroll deduction installment agreement or a direct debit installment agreement.
Also, the system now permits practitioners with valid authorizations to use the signature date found on their approved Form 2848, Power of Attorney and Declaration of Representative, or the caller ID as an alternate way to authenticate when requesting agreements for clients. According to the IRS, more than 75% of those eligible for an installment agreement can establish one using the online application, Since its launch in October 2006, more than 30,000 taxpayers have successfully used it to set up a payment agreement. Those eligible include taxpayers who owe $25,000 or less in combined tax, penalties and interest. They may self-qualify, apply and receive immediate notification of approval for installment agreements – including pre-assessed agreements on tax year 2007 Form 1040 liabilities and paperless direct debit agreements, the IRS release said.
Other Resources

RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
1 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
5 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
5 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
6 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
6 hours ago