04/06/2026
Missing payments on your IRS installment plan can lead to serious consequences. 💸 After just one missed payment, the IRS may issue a Notice CP523, giving you roughly 30 days to get back on track. If you fail to make your payment, the IRS can cancel your agreement, increasing your tax liability and leading to additional penalties. Understanding the rules of your payment plan is crucial to avoid falling into default. Stay informed and proactive to manage your tax obligations effectively!