Form 5708 - Hardship Installment Agreement Application

What Is Form 5708

Form 5708 is an application provided by the Missouri Department of Revenue that allows taxpayers facing financial hardship to establish a Hardship Installment Agreement. This type of agreement permits qualified individuals to extend the months to pay off their delinquent tax balance.

When to Use Form 5708 IRS

Taxpayers should consider using Form 5708 IRS in the following situations:

• They are currently experiencing a financial hardship that impedes their ability to meet necessary living expenses while paying off existing tax debts.
• They want to reduce their monthly payment amounts by extending the payment period.
• They have a tax balance they cannot pay in full but wish to avoid escalating collection actions by the Department of Revenue.

How To Fill Out Missouri Sales Tax Form 5708

Personal Information Section

Provide your full name, social security number, address, city, state, and ZIP code, the best daytime contact telephone number, and e-mail address.

Include the full names of all other persons in your household, their age, and their relationship to you. Indicate whether they can be claimed as a dependent and if they contribute financially to the household.

If you have a tax representative, such as a CPA or attorney, include their full name, address, telephone number, and fax number. Ensure you attach a completed Missouri Power of Attorney (Form 2827).

Employment Information Section

For each employer, include the full name of the employer, the employer's telephone number and address, your occupation, the frequency of pay (e.g., weekly, bi-weekly), your average net income, and the length of time employed. If you have more than one job or if there are other earners in the household, provide this information for each position.

Financial Information Section

List all bank accounts you have, including financial institutions' names and addresses, account numbers, and the balance for each account. Attach the most recent three months of bank statements for each account.

Document all other sources of income such as self-employment income, pensions, disability, Social Security, dividends, interest, gifts, loans, rental income, trust income, unemployment benefits, alimony, child support, and any other specified sources. Total the additional income and provide the total, including a spouse's income.

Signature Section

After reading the Certification, sign and date the form, if you are filing jointly, have your spouse sign and date.

Verify you have attached all required documentation with your signed application form using the checklist provided.

When to File Missouri Sales Tax Form 5708

Missouri Sales Tax Form 5708 should be filed when a taxpayer has assessed their financial situation and determined a genuine inability to pay the tax liability in full due to financial hardship. The form and all necessary documentation should be submitted immediately once a taxpayer cannot comply with the standard payment plan due to a significant and justifiable hardship. After filing, taxpayers should wait for the Department’s decision to approve or deny the application before making alternate arrangements.