An installment agreement is one of the most common forms of paying back IRS taxes when a taxpayer cannot afford to pay in full. This payment method allows taxpayers to pay back taxes in monthly installments without being charged additional penalties.

Are you entering into an installment agreement with the IRS? If so, you are making the move that is right for you and your tax liability. With an installment agreement in place you have the chance to pay what you owe without taking a large lump sum out of your bank account.