# Installment Agreement

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An **Installment Agreement** is a [United States](/source/United_States) [Internal Revenue Service](/source/Internal_Revenue_Service) (IRS) program that allows individuals to pay [tax](/source/Tax) debt in monthly payments.

There IRS has several different kinds of Installment Agreements; *Guaranteed*, *Streamline*, *Partial* and *Full Pay*. There are a number of requirements that have to be met before an installment agreement can be granted to a tax payer.

## Requirements

- Has to file all minimum required [tax returns](/source/Tax_return_(United_States)).
- Must owe $50,000 or less.
- Monthly payment cannot be less than $25 a month.[1]
- Keep a check on future refunds that can applied for tax refunds until tax debt is paid in full.

## References

1. [Payment Plans, Installment Agreements](https://www.irs.gov/Individuals/Payment-Plans,-Installment-Agreements) by IRS

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Adapted from the Wikipedia article [Installment Agreement](https://en.wikipedia.org/wiki/Installment_Agreement) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Installment_Agreement?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.