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We're going to owe about $8400 to the IRS, and $1900 to the Franchise Tax Board (CA state taxes), and since we don't have that kind of money sitting around, we'll need to get installment agreements for both of them.

Will I hurt my chances of getting the agreements approved if I file the taxes now and then file the installment agreement request in a month or so? The reason I ask is that we're supposed to be getting raises *any day now*, and once I know how much more money we'll have to work with, I can better say how much we can pay each month.

I'm worried that if I put down a number per month that's based on what we can pay today, that number will be too low and the request will be rejected.

Start the installment plan NOW before you are late. Any number that will get your debts paid off within a few years will be accepted. Once the plan is in place, you can always accelerate your payments if you have more money available.

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