If you’re struggling with tax payments and can’t afford to pay your taxes in full, you may have opted for an IRS installment agreement. This allows taxpayers to make small, regular payments towards their tax debt until it is paid off. However, if you miss a payment or fail to meet certain criteria, your installment agreement may be terminated. In this article, we’ll discuss how to reinstate an IRS installment agreement.

1. Determine why your installment agreement was terminated: The first thing you need to do is understand why your installment agreement was terminated. Common reasons include failure to make payments on time, failure to file tax returns, or changes in financial circumstances.

2. Contact the IRS: Once you understand why your installment agreement was terminated, you need to contact the IRS. You can call the IRS at 1-800-829-1040 or visit your local IRS office to speak with a representative. They will ask you questions about your financial situation and your installment agreement.

3. Provide financial documentation: To reinstate your installment agreement, you may need to provide financial documentation. This could include pay stubs, bank statements, and proof of expenses. The IRS will use this information to determine your ability to pay.

4. Pay any missed payments: If your installment agreement was terminated due to missed payments, you will need to pay the missed payments before the agreement can be reinstated. This may include penalties and interest.

5. Agree to new terms: If your financial situation has changed since your initial agreement, the IRS may require you to agree to new terms. This could include a higher monthly payment or a longer payment term.

6. Stay current: Once your installment agreement has been reinstated, it’s crucial that you make all future payments on time. Missing a payment can result in termination of the agreement again.

In conclusion, reinstating an IRS installment agreement requires understanding the reason for termination, contacting the IRS, providing financial documentation, paying any missed payments, agreeing to new terms if necessary, and staying current on future payments. If you’re struggling with tax payments, it’s important to take action and find a solution that works for you.