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What is an In-Business Trust Fund Installment Agreement?

by | May 3, 2014

Question: What is an In-Business Trust Fund Installment Agreement?

Answer: Small 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:

  1. 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.
  2. The debt must be full paid within 24-months or prior to the Collection Statute Expiration Date (CSED), whichever is earlier.
  3. You must enroll in a Direct Debit installment agreement (DDIA) if the amount you owe is between $10,000 and $25,000.
  4. You must be compliant with all filing and payment requirements.

Businesses that do not qualify for an IBTF-Express IA should prepare Form 433-B, CIS for Businesses. If you’re not sure how to proceed, contact one of the tax attorneys at the Perliski Law Group for a free consultation.

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