Simple tax question
Originally Posted by LS69TA
If I have to pay in this year, which looks like I may end up paying $2500, how do they work out the payments?
then you can request a payment plan for the rest via phone, or with a form. You will pay penalty and interest on the unpaid amount until it is paid in full ..
most of the time you are much better off borrowing the $$ and paying the IRS timely, to avoid the penalty..
they are pretty resonable with the payments they will allow you to make, but don't miss one ..
for example .. if you pay them $700 and owe them $1800, they will probably let you make $50 - $75 a month payments until you are paid off .. but the interest and penalties will keep accumulating .. you tell them how much you want to pay, and they will let you know if that is acceptable ..
and if you are late or miss a payment, they may reuire full payment on the balance at that time (not always, but sometimes)
Pay as much as you can by the deadline, to avoid the penalty..
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Joined: Mar 2003
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From: Texas...that says it all
Originally Posted by Gipraw
you pay as much as you can when you file your taxes by the normal deadline.
then you can request a payment plan for the rest via phone, or with a form. You will pay penalty and interest on the unpaid amount until it is paid in full ..
most of the time you are much better off borrowing the $$ and paying the IRS timely, to avoid the penalty..
they are pretty resonable with the payments they will allow you to make, but don't miss one ..
for example .. if you pay them $700 and owe them $1800, they will probably let you make $50 - $75 a month payments until you are paid off .. but the interest and penalties will keep accumulating .. you tell them how much you want to pay, and they will let you know if that is acceptable ..
and if you are late or miss a payment, they may reuire full payment on the balance at that time (not always, but sometimes)
Pay as much as you can by the deadline, to avoid the penalty..
then you can request a payment plan for the rest via phone, or with a form. You will pay penalty and interest on the unpaid amount until it is paid in full ..
most of the time you are much better off borrowing the $$ and paying the IRS timely, to avoid the penalty..
they are pretty resonable with the payments they will allow you to make, but don't miss one ..
for example .. if you pay them $700 and owe them $1800, they will probably let you make $50 - $75 a month payments until you are paid off .. but the interest and penalties will keep accumulating .. you tell them how much you want to pay, and they will let you know if that is acceptable ..
and if you are late or miss a payment, they may reuire full payment on the balance at that time (not always, but sometimes)
Pay as much as you can by the deadline, to avoid the penalty..
What he said.
Damn I have to pay too hopefully not to much. 
Originally Posted by SILVER SS 00
well you dont pay until they send you a letter or call them or they call you.thats how i have been doing it for about 5 yrs now,always got to pay,make too damn much
