Business payment plan

[ILLMAS]

Can one use form 9465 to setup a payment plan for an 1120?  My first time creating one for a business.

Thanks

 

[Lee B]

"Use Form 9465 if you’re an individual: • Who owes income tax on Form 1040 or 1040-SR, • Who is or may be responsible for a Trust Fund Recovery Penalty, • Who owes employment taxes (for example, as reported on Forms 941, 943, or 940) related to a sole proprietor business that is no longer in operation, or • Who owes an individual shared responsibility payment under the Affordable Care Act (this payment won’t be assessed for months beginning after December 31, 2018). "

"Don’t use Form 9465 if: •  Your business is still operating and owes employment or unemployment taxes. Instead, call the telephone number on your most recent notice to request an installment agreement. "

[Lee B]

"Businesses who currently have employees can qualify for an In-Business Trust Fund Express Installment Agreement (IBTF-Express IA). These installment agreements generally do not require a financial statement or financial verification as part of the application process.

The criteria to qualify for an IBTF-Express IA are:

You owe $25,000 or less at the time the agreement is established. If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.

The debt must be full paid within 24-months or prior to the Collection Statute Expiration Date (CSED), whichever is earlier.

You must enroll in a Direct Debit installment agreement (DDIA) if the amount you owe is between $10,000 and $25,000.

You must be compliant with all filing and payment requirements."