Question

Online payment agreement. Mark for follow up Question 7 of 10. A request for an installment agreement is guaranteed if the balance due is $10,000 or less and three of the following four statements apply. Which is NOT one of these three statements? All tax returns for the past five years have been filed in a timely manner with any tax due paid, and there are no previous installment agreements. The taxpayer does not use an Individual Tax Identification Number (TIN). The IRS determines that the taxpayer is unable to pay the tax due, and the taxpayer gives the IRS the information to make that determination. O The taxpayer agrees to pay the full amount within three years and comply with all tax laws. Mark for follow up « Back Save / Return Later Summary Next >>

Answer 1

To qualify for a Guaranteed Installment Agreement, you must meet the following criteria:

1. You owe $10,000 or less (excluding interest and penalties).
2. Your spouse and you (if filing jointly) have filed all your tax returns from the last five years. Furthermore, you paid all your taxes on time.
3. You are not currently on a payment plan for late taxes.
4. Agree to pay the balance within three years or by the CSED.
5. You are not in bankruptcy.
6. You did not have an installment agreement in the previous five taxable years

If the IRS accepts your request, you must make all the payments on time, or the agreement may terminate. Additionally, the agreement can also be terminated if you file future tax returns late or fail to pay.

Hence option B mentione in question does not met the abo be requirement.  

Ans- (B).