Business Daily.
.
A+ R A-

Tax Defense Network Explains the Benefits of a Non Disclosure Installment Agreement

E-mail Print PDF
    JACKSONVILLE, FL, October 02, 2013 /24-7PressRelease/ -- Tax Defense Networks knows that many taxpayers are unable to pay their tax debt in one lump sum. The IRS offers various installment agreements to accommodate those without the financial ability to pay their debt all at once. The most simple installment agreement is the Non Disclosure Installment Agreement (NDIA).

A NDIA is for taxpayers who owe the IRS $25,000 or less and have the financial capability to pay their debt over a fixed period of time. Monthly payments are made over no more than 72 months until the tax debt is paid in full. Payments are calculated by dividing the total amount of IRS debt by the number of months given to repay the debt.

"A NDIA is a really great way for people who can't or for whom it would be hard to pay off their debt all at once to resolve their IRS debt," says Amanda Fronckoski of Tax Defense Network Business Development. "You have to pay the entire debt, but paying it over time is a lot easier for most people. Just remember: penalties and interest will continue to accrue."

There are various benefits to the Non Disclosure Installment Agreement. It allows those for whom it would be hard or impossible to pay all at once to pay over time. It is one of the easiest IRS programs to qualify for and requires the least amount of paperwork. But the main benefit of the Non Disclosure Installment Agreement is that no financial disclosure is required.

Unlike most IRS resolution programs, financial disclosure is not necessary for a NDIA. This allows taxpayers to protect their income and assets. Expenses and spending habits stay completely private as well.

"A lot of people don't want the IRS looking into their income and assets," Amanda goes on to say. "I can understand that. The IRS can't levy or seize what they don't know is there. With a NDIA you can also protect your bank accounts and 401K. This is important to a lot of people."

The IRS also offers the Fresh Start Non Disclosure Installment Agreement for taxpayers who owe $25,000 to $50,000. The only difference from the traditional NDIA is that limited financial disclosure may be required. Given the higher amount of debt, the IRS needs to be confident that the taxpayer has the ability to pay the installments in the required time period.

Tax Defense Network is a national tax relief company that assists both individuals and small businesses with their tax issues. With over 35 years of combined experience, its team of licensed tax professionals has resolved over $120 million in client tax debts. Tax Defense Network has maintained an A rating with the Better Business Bureau since its founding in 1997.

For more information on national tax relief company Tax Defense Network and its tax debt relief services, please visit http://www.taxdefensenetwork.com/pr or call (888) 605-5657 for a free consultation. For other inquiries, contact becky.korn@taxdefensenetwork.com

Business Daily Media