What purpose does Form 9465 serve?

Form 9465 is specifically designed as a request for an installment agreement with the IRS. This form allows taxpayers who owe taxes but cannot pay the full amount by the due date to propose a payment plan that would enable them to pay their tax liability in manageable installments over time.

Using Form 9465 is an important tool for taxpayers in financial distress, as it helps avoid more severe consequences from unpaid taxes, such as penalties, interest, or other collection actions by the IRS. By filing this form, taxpayers can formalize their arrangement with the IRS to make payments over a specified period instead of facing immediate, full payment demands.

While capital gains and losses are recorded on different forms, disputes against IRS claims or calculating adjusted gross income also involve other specific forms and processes, making this request for an installment agreement the unique purpose of Form 9465.