71-661: Installment Agreement (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 71-661 requests an installment agreement to pay tax owed over time. It lists the tax year, total balance owed, payment made with the return, and monthly payment amount, along with taxpayer, employer, and banking information.
Who files this form
Use Form 71-661 to request an installment agreement if you owe at least $75 and meet the form's requirements:
- File your return by its due date, including any allowed extension, and submit this request with the return.
- You, and your spouse if filing jointly, must have filed all required income tax returns and paid all taxes due for the past five years.
- You cannot have entered into an installment agreement during the past five years.
There are two payment arrangements:
- $75 through $3,000 owed: Pay in twelve equal installments.
- More than $3,000 owed: You must have an IRS installment agreement for the same tax year. The Mississippi agreement allows payment within sixty months, and you must attach a copy of the IRS approval notification.
Do not file this form if you are currently making payments on an installment agreement.
What you'll need
Have your tax return available. The request must be submitted with it.
You will need:
- The tax year, total amount owed as shown on your return, any payment you are making with the return, and the amount due each month.
- Your name, Social Security number, mailing address, county code, phone number, and best time to call, plus your spouse's information if applicable.
- Your employer's name and address.
- Your bank or other financial institution's name and address.
If you owe more than $3,000, attach a copy of the approved IRS installment agreement notification for the same tax year.
How to file
Complete the identification, payment, employer, and banking information. Check the address-change box if your address is new since your last tax return.
Attach Form 71-661 to the front of your return. Submit it with the return, which must be filed by the due date or an allowed extension. Attach the IRS approval notification if required for a balance over $3,000.
The form lists this mailing address:
Department of Revenue
P.O. Box 23050
Jackson, MS 39225-3050
Common mistakes
- Filing while already making installment payments: The form says not to file if you are currently paying under an installment agreement.
- Missing payments or other tax obligations: The agreement may be terminated if an installment is late or another tax liability is not paid when due.
- Overlooking interest: Interest continues until you pay in full. Contact the Department of Revenue for the remaining balance before your last payment so interest is paid correctly.
- Not reporting bankruptcy: If you file bankruptcy during the installment period, notify the Bankruptcy Section immediately at 601-923-7393. The agreement may become void when you file bankruptcy.
Questions people ask
Does interest continue during the agreement?
Yes. Interest accrues at 1/2% per month during the installment agreement period.
Can I request an agreement if I owe more than $3,000?
Yes, if you meet the eligibility requirements and have an IRS installment agreement for the same tax year. Attach a copy of the IRS approval notification. The Mississippi agreement allows payment within sixty months.
What if I have a pending bankruptcy case?
Federal law may bar you from participating in an installment agreement. The form directs you to contact the Department of Revenue for details.
Can the agreement be terminated?
Yes. It may be terminated if an installment payment is late or you do not pay another tax liability when it is due.