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Category: Federal

Installment Agreement (Form 9465)

Purpose of the Form

 

The purpose of form 9465 is to request a monthly installment plan if you cannot pay the full amount you owe shown on your tax return or any letter you may have received from the IRS requesting payment. The maximum amount of time you can set the agreement for is 72 months. In certain circumstances you may be approved for a longer time frame depending on the amount of tax you owe.

 

Who should use Form 9465?

 

  • An individual who owes income tax on Form 1040
  • An individual who is or may be responsible for a Trust Fund Recovery Penalty.
  • An individual who owes self-employment taxes.

 

Who should NOT use Form 9465?

 

  • An individual who can pay the full amount due within 120 days. Call 1-800-829-1040 to request payment in full.
  • An individual who wants to request an online payment agreement (OPA).

 

Who is eligible for a Guaranteed Installment Agreement?

 

An individual is eligible if the tax you owe is not more than $10,000 and:

 

  • During the past 5 years you have filed all income tax returns on time and paid any amount due without use of an installment agreement.
  • You agree to pay the full amount you owe within 3 years
  • You are financially unable to pay the amount due in full by the deadline

 

How does the Installment Agreement Work?

 

You will also be charged interest and may be charged a late payment penalty on any tax not paid by the due date, even if your request to pay in installments is granted. Interest and any penalties will be charged until the balance is paid in full. To limit interest and penalty charges, file your return on time and pay as much of the tax as possible with your return (or notice).

 

Once the IRS approves the request, they agree to let you pay the tax you owe in monthly installments. In return, you agree to make your monthly payments on time. You also agree to meet all your future tax obligations. This means that you must have enough withholding or estimated tax payments so that your tax obligation for future years is paid in full when you timely file your return. Your request for an installment agreement will be denied if all required tax returns have not been filed. Any refund you are due in a future year will be applied against the amount you owe. If your refund is applied to your balance, you are still required to make your regular monthly installment payment.

 

 

What payment options do I have to make my monthly payments?

 

You can make your payments by check, money order, credit card, or one of the other payment methods shown next. The table below shows the fees for each payment method.

 

Payment Method

Applicable Fee

Check, money order, or credit card

$120.00

Direct Debit

$52.00

Payroll Deduction

$120.00

 

How to File Form 9465?

 

If you are electronically filing your return you may complete this form in the program and electronically file it with your return. If you are filing your return by paper attach Form 9465 to the front of your return and send it to the address shown in the tax return booklet or click here for a complete list of mailing addresses. If you have already filed your return or are filing Form 9465 in response to a notice file this form by itself and mail to the appropriate address.

 

How to complete Form 9465 in Taxslayer Program?

 

Once logged into the program select Federal Section>>Miscellaneous Forms>>Installment Agreement (Form 9465). You will need to complete the personal information, employer information and payment details. Once you have completed the form you can choose to e-file the Form with your return or file the form by itself.

 

Click Here to view detailed instructions on the IRS website for Form 9465.