Certified Tax Resolution Specialist (CTRS)

Does entering into an installment agreement stop the accrual of penalties and interest on the outstanding tax balance?

No, penalties and interest continue to accrue until the balance is paid in full Yes, both penalties and interest stop accruing once an IA is approved Yes, but only the failure-to-pay penalty stops; interest continues Only the failure-to-file penalty stops; failure-to-pay and interest continue

Correct Answer:

No, penalties and interest continue to accrue until the balance is paid in full

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