Payment Plan Agreement: Fill & Download for Free

I used to represent workers in the grievance procedure in Connecticut, at Pratt & Whitney, the jet engine maker. Some of our members, with specialized skills, would be given “road” assignments to go where the engines were having trouble out in the field.There’s a big aAir Force base in San Antonio, and folks were sent there a lot. Sometimes they stayed quite a while, with company-provided lodgings, plenty of over-time, and in certain circumstances (now discontinued), a company credit card to buy needed tools equipment or hardware at the site.So it came to be that a worker was terminated and filed a grievance contesting the termination. He claimed complete innocence, and the Union moved the grievance up thru the procedure because the company kept stalling on supplying substantiation for the firing.By the time it got to my level, the facts clarified: there were signed receipts, credit card statements, even some surveillance video and eyewitness statements.It turned out the worker had charged about $85,000 to the Pratt American Express card. The charges were for an upscale strip club, where lots of drinks and steak dinners are enjoyed, along with a number of “special service” charges, none of which were cheap.Correction: I said he spent $85,000 at the strip club, and that was not accurate, now that I think about it. He spent around $60,000 at the club, and bought a Rolex watch for $25,000. That turned out to be a gift for his favorite stripper.The company had dragged their feet because they were gathering evidence to prosecute the guy, but had not yet pulled the trigger. Our approach was to see if management would be willing to forego prosecution. It turned out the guy was an alcoholic and had spiraled out of control. We knew he was not getting his job back, but thought that if he made restitution, perhaps he did not need to go to jail.We got him into rehab on the last of his insurance, he signed a resignation agreement, and a payment plan agreement, and the company did not pursue criminal charges.But somewhere, deep in the heart of Texas, an exotic dancer has a mighty fine watch.

You should file your taxes as normal. Then you will file a form seeking a payment plan. As long as you have never had a payment plan before, you will be fine. Look at this link. Payment Plans, Installment Agreements Work out a small payment plan. You can always pay more on it and finish it faster if you are able. You do not want to set up a payment plan that doesn't work out, because if you miss payments that can be a serious problem.I know you are probably panicking. Don't. The IRS will work with you.Going forward, remember to make your quarterly payments. Otherwise it is very tempting to keep the money, forget that you owe it, and find yourself in trouble.Good luck!

My usual plan was the client pays in advance. That plan worked fine for me. There were very, very rare situations where I accepted a staggered payment arrangement, with very clear agreements that I could withdraw upon failure to pay as promised.