Enrolled Agent Exam [Part 3] 62, Installment Agreements

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- The specific dollar and time limits that differentiate Guaranteed ($10k tax over 3 years) and Streamlined ($50k total liability over 72 months) installment agreements.

- When the IRS requires a financial disclosure (Collection Information Statement) for non-streamlined agreements versus when it's not needed.

- Why being current on all tax filings is a non-negotiable prerequisite for any type of installment agreement.

- How user fees can be reduced through online applications and direct debit, and how an active agreement protects taxpayers from an IRS levy.

- The reasons for termination of an agreement, the required 30-day notice period, and the taxpayer's right to appeal the termination.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep