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
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago