Episode 81: In this episode, Timalyn talks about how to set up a payment arrangement with the IRS. Specifically, how to set up an online payment plan.

What is an IRS Payment Plan?

An IRS payment plan is an arrangement between a taxpayer and the IRS that allows the taxpayer to pay their tax debt down over time. The IRS refers to these as installment agreements. Timalyn discusses different types of Installment Agreements in Episode 10 of Tax Relief with Timalyn Bowens: IRS Installment Agreements.

What is an Online IRS Payment Plan?

An Online IRS payment plan is one that can be set up using the IRS online payment agreement application also known as OPA. If your debt plus penalties and interest is $50,000 or less and you can pay it off in 72 months or less you may be able to set up a payment arrangement through the IRS website.

You’ll need an IRS account to do this. If you don’t already have one Timalyn wrote an article about how to get your IRS transcripts that will also walk you through setting up an account. You can find it here: How to Get an IRS Transcript Online in 3 Steps .

Once logged into your account, you will be able to see your repayment options.

Technology is great until it is not. Even though you may qualify, the option to set up the arrangement online may not be showing up on your account.

If this is the case, then you’ll need to call the IRS ACS department to set up your payment arrangement. Timalyn reminds taxpayers that she never judges anyone’s tax competency. If you have listened to this episode and you still don’t want to set this up yourself, you can hire a professional to take care of it for you.

A tax professional with Form 2848, Power of Attorney, and Declaration of Representative on file with the IRS can do this for you. Only an Enrolled Agent, such as Timalyn, Certified Public Accountant, or Tax Attorney, can have a Form 2848 and be your tax power of attorney.

Need Tax Help Now?

If you need answers to your tax debt questions, book a consultation with Timalyn via her Bowens Tax Solutions website. Click this link to book a call.

Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it.

As we conclude Episode 81, we encourage you to connect with Timalyn on social media. You’ll be able to subscribe to this podcast on Spotify, Apple Podcasts, YouTube, and many other podcast platforms.

Remember, Timalyn Bowens is America’s Favorite EA, and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.

For more information about tax relief options or filing your taxes, visit https://www.Bowenstaxsolutions.com/ .

If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact.

Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.

Episode 80: In this episode, Timalyn covers what an IRS IPIN is, who is eligible to get one, and how it is used.

What is an IRS IP PIN?

An IRS IP PIN is an Internal Revenue Service Identity Protection Personal Identification Number. The IRS issues these to taxpayers to help protect someone else from filing a tax return with their social security number (SSN) or individual taxpayer identification number (ITIN).

The IP PIN is required to determine whether the taxpayer is filing their return electronically or by paper. If the IP PIN is not present for an e-file, the return will be rejected. If it is not present on a paper filing, a delay will be caused until the taxpayer sends in their IP PIN.

Anyone who has a SSN or ITIN and can verify their identity can apply for an IP PIN from the IRS. Parents and legal guardians can also request one for their dependents. This is not limited to minor dependents.

How to apply for an IRS IP PIN

The fastest way to get an IP PIN is online via your IRS account. If you don’t have an account, check out this article Timalyn wrote for people who need an account to access their transcripts: How to Get an IRS Transcript Online in 3 Steps . You cannot use this method if you are applying for a minor dependent.

Once logged into your account, you can request an IP PIN from your profile.

If you can’t verify yourself online, you can apply with an application via Form 15227, Application for Identity Protection Personal Identification Number. To use this method taxpayers must have:

• A valid SSN or ITIN

• An adjusted gross income (AGI) under $84,000 (Single) or $168,000 if Married Filing Joint.

• Access to a telephone

If these criteria aren’t met the final way to request an IRS IP PIN is in person. An appointment can be made at your local Taxpayer Assistance Center. The IRS has a list of acceptable forms of identification you’ll need when going to your appointment. Here is a link to the list - Acceptable Documents to Prove Identity.

Key IRS IP PIN things to Remember

• An IP PIN is only valid for one calendar year.

• The IRS issues a new IP PIN via Notice CPO1A unless you’ve opted out of paper mail. Then it will just be uploaded to your IRS account and is available January - November.

• Your Federal tax return cannot be filed and processed without your IP PIN

Need Tax Help Now?

If you need answers to your tax debt questions, book a consultation with Timalyn via her Bowens Tax Solutions website. Click this link to book a call.

Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it.

As we conclude Episode 80, we encourage you to connect with Timalyn on social media. You’ll be able to subscribe to this podcast on Spotify, Apple Podcasts, YouTube, and many other podcast platforms.

Remember, Timalyn Bowens is America’s Favorite EA, and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.

For more information about tax relief options or filing your taxes, visit https://www.Bowenstaxsolutions.com/ .

If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact.

Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.