Pennsylvania Sample Letter for Request for Payment Plan concerning Default: [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Request for Payment Plan regarding Default Account Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to discuss a matter of utmost importance regarding the default on my account with your organization. Firstly, I want to acknowledge my responsibility for the outstanding debt of $[amount] on my account which currently remains unpaid. Due to unforeseen circumstances such as [briefly explain the cause of financial difficulties], I have faced financial constraints that made it difficult for me to make timely payments following our original agreement. However, I am committed to resolving this issue and wish to propose a mutually beneficial payment plan to alleviate the burden of this debt. I sincerely hope you will consider my request and work with me to develop a plan that is fair and feasible for both parties. To demonstrate my earnest desire to clear this obligation, I have reviewed my financial situation and have devised a payment plan that I firmly believe will allow me to make regular payments towards my outstanding balance. Enclosed with this letter, please find a financial statement, along with supporting documents, providing all relevant information to substantiate my request. The proposed payment plan is as follows: 1. Monthly installments: $[amount] per month 2. Payment start date: [specific date] 3. Duration of payment plan: [number of months/years] 4. Payment method: [electronic transfer, check, etc.] 5. Other terms or conditions: [if any] I assure you that I have every intention of honoring this payment plan in its entirety and will promptly communicate any changes to my financial circumstances that may affect the agreed-upon terms. I kindly request that you review my proposal and respond within [time frame], preferably via written correspondence or email, to let me know if you find my proposed payment plan acceptable. If you have any suggestions or amendments to the plan, I am open to discussion in order to reach a mutually agreeable resolution. I believe that by working together, we can come to a satisfactory agreement that will allow me to clear this debt while ensuring your organization receives full payment. I genuinely value our business relationship and want to resolve this matter in an amicable and professional manner. Thank you for your time and understanding. I sincerely hope we can reach a swift resolution to this matter. Should you have any questions or wish to discuss the payment plan further, please do not hesitate to contact me at your convenience. Yours sincerely, [Your Name]
Pennsylvania Sample Letter for Request for Payment Plan concerning Default
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How to fill out Sample Letter For Request For Payment Plan Concerning Default?
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Penalties and Interest For each month or fraction of a month the return is late, the department imposes a penalty of 5 percent of the unpaid tax unless the taxpayer can prove reasonable cause for late filing. The maximum penalty is 25 percent of the unpaid or late-paid tax.
If you received a CP523, CP523 (SP) or CP623 Notice, the IRS is informing you of the intent to terminate your installment agreement and seize (levy) your assets. You have defaulted on your agreement.
How do I set up a payment plan to pay off past due personal income taxes? You may set up payment arrangements for personal income tax liabilities by contacting our Collection Unit directly at 717-783-3000. Payment plans can also be handled by the Revenue district offices...
Option 1: Pay through Direct Debit (automatic monthly payments from your checking account), also known as a Direct Debit Installment Agreement (DDIA). Apply online: $31 setup fee. Apply by phone, mail, or in-person: $107 setup fee. Low income: Apply online, by phone, or in-person: setup fee waived.
Step 1: Have your checking account number and bank routing number available. Step 2: Call 717-425-2495, Ext: PAYPA (72972). Step 3: The customer service representative will explain your options and next steps.
What if I am not eligible or unable to apply or revise a payment plan online? Individuals can complete Form 9465, Installment Agreement Request. ... If you prefer to apply by phone, call 800-829-1040 (individual) or 800-829-4933 (business), or the phone number on your bill or notice.
Follow these six easy steps to set up a debt repayment plan. Make a List of All Your Debts. ... Rank Your Debts. ... Find Extra Money To Pay Your Debts. ... Focus on One Debt at a Time. ... Move On to the Next Debt on Your List. ... Build Up Your Savings.
What happens if you default. If you default on your payment plan, the IRS will send you one of two notices: CP523 or Letter 2975. These notices don't cancel your agreement, but they put you on notice that you have 30 days to act, or the IRS will end your agreement.
