{"id":28306,"date":"2017-09-18T21:47:36","date_gmt":"2017-09-18T21:47:36","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?p=28306"},"modified":"2018-04-16T16:59:40","modified_gmt":"2018-04-16T21:59:40","slug":"tax-dictionary-defaulted-installment-agreement","status":"publish","type":"post","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-defaulted-installment-agreement\/","title":{"rendered":"Defaulted Installment Agreement"},"content":{"rendered":"<h2>IRS Definition<\/h2>\n<p>The Internal Revenue Service may propose termination of (place in default) installment agreements if taxpayers:<\/p>\n<ul>\n<li>fail to pay an installment payment when due under the terms of an agreement;<\/li>\n<li>fail to pay another tax liability at the time such liability is due; <strong>Note: <\/strong>This includes related TINs for the same taxpayer. Examples would be a sole proprietor and an IMF or a partnership and an IMF. <strong>Note:<\/strong> Affordable Care Act individual shared responsibility payment liabilities do not default an existing installment agreement.<\/li>\n<li>fail to provide an updated financial statement upon request;<\/li>\n<li>provided information prior to the date such agreement was entered into that was inaccurate or incomplete; or,<\/li>\n<li>fail to pay a modified payment amount based upon updated financial information.<\/li>\n<\/ul>\n<h2>More from H&amp;R Block<\/h2>\n<p>If you don&#8217;t meet the terms of your installment agreement because you miss a payment, don\u2019t pay taxes that you owe, or don\u2019t comply with IRS requests for information, the IRS will send you a notice that gives you 30 days to fix the problem. After that, the IRS will terminate your installment agreement.<\/p>\n<p>Once the IRS has terminated your agreement, the IRS can begin enforced collection actions. The IRS will likely file a notice of federal <a href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-federal-tax-lien\/\" target=\"_blank\" rel=\"noopener\">tax lien<\/a> and could potentially <a href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-levy\/\" target=\"_blank\" rel=\"noopener\">levy<\/a> your wages and\/or bank accounts.<\/p>\n<p>If the IRS agrees to reinstate your agreement once it has been terminated, you&#8217;ll have to pay a reinstatement fee.<\/p>\n<p><a href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/bill-for-unpaid-taxes\/\">Learn what to do if you can&#8217;t pay your taxes.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRS Definition The Internal Revenue Service may propose termination of (place in default) installment agreements if taxpayers: fail to pay an installment payment when due under the terms of an agreement; fail to pay another tax liability at the time such liability is due; Note: This includes related TINs for the same taxpayer. Examples would [&hellip;]<\/p>\n","protected":false},"author":605,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,51],"tags":[],"class_list":["post-28306","post","type-post","status-publish","format-standard","hentry","category-irs","category-audits-and-tax-notices"],"acf":[],"yoast_head":"<title>Tax Dictionary - Defaulted Installment Agreement | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Get the facts about defaulted installment agreements from H&amp;R Block, and learn how to fix the issue if you default your IRS installment agreement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-defaulted-installment-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Defaulted Installment Agreement\" \/>\n<meta property=\"og:description\" content=\"Get the facts about defaulted installment agreements from H&amp;R Block, and learn how to fix the issue if you default your IRS installment agreement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-defaulted-installment-agreement\/\" \/>\n<meta property=\"og:site_name\" content=\"H&amp;R Block\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-18T21:47:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-16T21:59:40+00:00\" \/>\n<meta name=\"author\" content=\"Elyce Luegers\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@hrblock\" \/>\n<meta name=\"twitter:site\" content=\"@hrblock\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elyce Luegers\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-defaulted-installment-agreement\/\",\"url\":\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-defaulted-installment-agreement\/\",\"name\":\"Tax Dictionary - 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