Instructions for Filling Out Form 9465

This document offers comprehensive instructions on completing Form 9465, used to request a monthly installment agreement with the IRS for taxpayers unable to pay their full amount owed. It covers eligibility, the purpose of the form, how the installment agreement works, and specific instructions for each part of the form, as well as taxpayer rights and issue resolution.

In this article, we'll provide information on Form 9465 and a step-by-step guide on how to fill it out, keeping it straight to the point.

What is Form 9465?

Form 9465 is a document used by taxpayers to request a monthly installment agreement with the Internal Revenue Service (IRS) when they are unable to pay the full amount owed as indicated on their tax return or a notice sent by the IRS. The purpose of this form is to enable taxpayers to make monthly installment payments towards their tax debt, allowing them to manage their financial obligations more effectively. By submitting Form 9465, taxpayers can seek an agreement with the IRS to pay their tax debt in smaller, more manageable amounts over time.

Who Must File Form 9465?

Form 9465 should be filed by individuals who meet any of the following criteria: they owe income tax on Form 1040 or 1040-SR, are or may be responsible for a trust fund recovery penalty, owe employment taxes related to a sole proprietor business that is no longer in operation, or owe an individual shared responsibility payment under the Affordable Care Act (note that this payment is not assessed for months beginning after December 31, 2018).

Form 9465 Tax Filing Deadlines and Due Dates

It is important to consult with the IRS or a tax professional for guidance on when to submit your installment agreement request. However, it is generally recommended to file Form 9465 as soon as you realize you are unable to pay your tax debt in full to avoid potential penalties and interest.

Form 9465 Late Payment Penalty

While the late payment penalty for Form 9465 is not explicitly mentioned in the instructions, it is important to note that interest and a late payment penalty will be charged on any tax not paid by its due date, even if the request to pay in installments is granted. These charges will continue to apply until the balance is paid in full.

Step-by-Step Instructions for Form 9465

The step-by-step instructions for filling out Form 9465 are as follows:

1. Provide your name and social security number in the same order as they appear on your tax return (Line 1a).
2. If your address has changed since you filed your last tax return, check the box on line 1b.
3. If you are making this request for a business that is no longer operating, provide the name and employer identification number of the business (Line 2).
4. Enter the total amount you owe as shown on your tax return(s) or notice(s) (Line 5).
5. If you have additional balances due that are not reflected on line 5, list the total here (Line 6).
6. Add lines 5 and 6 and enter the result (Line 7).
7. Enter the amount you can pay each month (Line 11a).
8. Choose the day of each month your payment is due (Line 12).
9. If you want to make your payments by direct debit from your checking account, fill in lines 13a and 13b.
10. If you want to make your payments by payroll deduction, check the box on line 14 and attach a completed and signed Form 2159.
11. If you have defaulted on an installment agreement within the last 12 months, the amount you owe is greater than $25,000 but not more than $50,000, and the amount on line 11a (line 11b, if applicable) is less than line 10, complete Part II on page 2 of Form 9465.
12. Attach Form 9465 to the front of your return and send it to the appropriate IRS address.

How to Submit Form 9465

To submit Form 9465, complete the form with accurate information, attach it to the front of your tax return, and send it to the address shown in your tax return booklet. If you have already filed your return or you're filing this form in response to a notice, file Form 9465 by itself with the Internal Revenue Service Center using the address that applies to you.

Keep in mind the importance of providing accurate information, as false information may result in fines and penalties. Consider other factors, such as paying the full amount within 180 days to avoid fees, completing Form 433-F if you owe more than $50,000, and completing Part II on page 2 of Form 9465 if certain conditions apply. Low-income taxpayers may be eligible for a reimbursed user fee, and making payments by direct debit can help ensure timely payments and prevent defaulting on the installment agreement.

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