The LTR 3477 outlines the terms of your installment agreement. It serves a similar function to the LTR 148C but may appear in different processing contexts. The letter shows your monthly payment amount, due date, payment method, tax periods covered, and the compliance requirements you must maintain.
Key Terms to Verify
Payment amount: confirm it matches what you agreed to. Due date: make sure it aligns with your pay schedule. Tax periods: verify all periods with balances are included. Payment method: confirm whether it's direct debit, manual payment, or payroll deduction.
Compliance Requirements
Your installment agreement requires you to make every payment on time, file all future returns by the due date, pay all future taxes in full, and not incur new tax balances. Violating any of these terms can trigger default. The LTR 3477 spells out these requirements. Read them. Follow them.
Changes to Terms
If the terms on the LTR 3477 don't match what you agreed to, contact the IRS immediately. Processing errors can result in incorrect payment amounts or wrong due dates. Correct any errors before the first payment is due to avoid compliance issues.
If you have questions about your installment agreement terms, call us at (813) 229-7100.