installment agreement

Definition of "installment agreement"
  1. A pact allowing a taxpayer to remit unpaid federal taxes in monthly payments to the IRS
How to use "installment agreement" in a sentence
  1. The taxpayer entered into an installment agreement to gradually pay off her owed federal taxes.
  2. The IRS approved the businessman's request for an installment agreement.
  3. With the installment agreement, he was able to manage his tax debt without financial strain.

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