Business Extension of Time to Pay Frequently asked questions
We now have an FAQ list that we hope will help you answer some of the more common questions regarding business extension of time to pay.
1. What is a business extension of time to pay?
A business extension of time to pay is where we ask the IRS to extend the payment requirements for X amount of time. This gives us room to analyze and solve your case.
2. Do I qualify?
- Generally, if action is being taken on the account to correct the issues, then yes.
3. What do you do?
- We contact the IRS.
- We request your record.
- We calculate your balance due.
- We check for unfiled taxes.
- We review all the data in your file.
- We will recommend which option is best.
- We will prepare the appropriate forms with the information you provide.
- We handle the contact with the IRS.
4. Does the IRS charge a fee?
Not for an extension of time to pay.
5. Is it offered to everyone?
To a business and if you qualify.
6. What information do I need to gather?
- We’ll let you know.
Don’t worry we guide you through it.
7. How long does it take?
When everything is in order, then right away.
8. Will interest and penalties continue?
Yes.