What This Notice Means

CP289 is the Annual Installment Agreement Statement for businesses that are paying the IRS under an installment agreement. The IRS sends it once a year. It is not a bill.

The statement shows:

  • The beginning balance on your account
  • Each payment you made during the year
  • Penalties, interest, and other charges added during the year
  • The ending balance you still owe

Individuals on a payment plan get a similar annual statement, the CP89.

What to Do

  • Check every payment listed against your bank records.
  • Keep making your scheduled payments. This statement does not change your agreement.
  • Stay current on new returns and deposits. A business has to remain compliant for the entire term of the agreement or it can default.

When to Call the IRS

Call the number on the notice if:

  • You made a payment that isn't shown on the statement. Have the date, amount, and a copy of the check or bank record ready.
  • You want the full payoff amount. Some accounts carry penalties or interest that the computer can't figure automatically, so the balance on the statement may not be your complete payoff.

Deadlines

None. This statement does not require a response. Keep paying on your agreed schedule.

If your business is struggling to keep up with an IRS payment plan, call us at (813) 229-7100.