Getting an installment agreement plan as a form of tax relief is a good option for those with tax debt - much better than having their salaries garnished or their bank accounts levied.
The installment agreement plan lets you pay off your back taxes in smaller amounts over a period of time.
It is an "agreement" plan because both you and the IRS will have to agree to the terms of this installment plan, including the schedules of payment and how much you should pay.
First, you must apply for the plan and clarify what you can offer.
To get your plan approved, you should announce that you will be able to pay the debt within two to five years, not too short a time for you to make reasonable payments and not too long for the IRS to become impatient.
Usually, the IRS will review your income and expenses and come up with a figure per month that is actually your net income minus your basic household expenses.
That may be a lot, but you might not get your plan approved if you protest too much.
It is also highly probable that your requested plan will be approved if the amount you propose is higher than what the IRS expects to receive.
But be careful when raising the stakes - it only takes one missed payment for the IRS to cancel your agreement completely and you'll be vulnerable to levies.
Other forms of tax relief include Offer In Compromise and penalty abatement.
You can consult professional tax experts to find out which form of tax relief will apply to or works the best for you.