IRS Payment Plan Tracker (US)

Signing an IRS installment agreement does not freeze the bill — it starts a race. Interest and the failure-to-pay penalty keep accruing every month on whatever balance is left, so the real cost of the plan is not the tax you owed; it is the tax plus every dollar of accruals between now and payoff. This tracker runs the race month by month with YOUR agreement figures: the balance walks to exactly $0, the payoff date lands on the Dashboard, and the true cost of the plan — setup fee plus all interest plus all penalties — is one number you can see.

What it does for you:
– Start Here — 5-minute setup: copy the figures from your installment agreement letter (total owed, monthly payment, first payment date, setup fee). The interest and penalty rates are yellow example cells — replace them with the figures on your own IRS letter or statement.
– Payment Schedule — all 40 months laid out: interest and penalty accrue on the opening balance, your payment lands, the closing balance calculates itself. The final payment is smaller, like real life, and the schedule stops at exactly $0.
– Payment Log & What-If — log every payment the IRS actually takes, with missed payments flagged as their own type (an agreement can be defaulted after a miss). Below the log, what-if rows price extra per month: in the samples, +$100/month cuts 11 months and saves about $455 of accruals.
– Dashboard — months to clear, payoff date, total interest, total penalties, the setup fee, and the TRUE COST of the plan in one view.
– Expense Log & Monthly Budget — a zero-based budget with an IRS Payment category, so the instalment is funded like a bill, not remembered like a hope.
– Monthly Summary — 12 months of payments in one view.
– Sample rows pre-filled ($8,400 owed at an example 8% interest + 0.25%/month penalty, $275/month: clear in 37 months, payoff 15 Nov 2029, $1,091.11 interest + $409.17 penalties + $130 setup fee = $1,630.28 true cost on top of the tax) so every formula works the moment you open it; formula cells are locked (password disclosed in Start Here) and every formula is error-wrapped. Rates change and every agreement differs — a tracking and planning tool, not tax or financial advice.

What’s inside (.xlsx, works in Excel AND Google Sheets): Start Here · Payment Schedule (interest + penalty, month by month) · Payment Log & What-If · Expense Log · Monthly Budget (zero-based) · Dashboard · Monthly Summary (12 months).

Instant download. No shipping, no waiting. Message us if you need help setting it up — we answer fast.