If I currently have an installment agreement in place with the IRS for my 2010 tax bill, can I modify it to add my 2011 taxes I owe? I received an extension to file until 10/15. If not, can I pay off the existing installment agreement and have another one for the 2011 bill?

ANSWER

The BIDaWIZ Team's Answer:

You may be able to modify or restructure an existing installment plan with the IRS. You will need to contact the IRS to discuss this potential option. You can certainly payoff your existing installment agreement and apply for a new one for 2011. But, contact the IRS first to discuss your options.