Do you owe more tax than you can afford to pay when you file? If
so, don’t fail to take action. Make sure to file on time. That way you won’t
have a penalty for filing late. Here is what to do if you can’t pay all your
taxes by the due date.
- File on time and
pay as much as you can. You should file on time to avoid a late
filing penalty. Pay as much as you can with your tax return. The more you
can pay on time, the less interest and late payment penalty charges you
will owe.
- Pay online
with IRS Direct Pay. IRS Direct Pay is
the latest electronic payment option available from the IRS. It allows you
to schedule payments online from your checking or savings account with no
additional fee and with an immediate payment confirmation. It’s, secure,
easy, and much quicker than mailing in a check or money order. To make a
payment or to find out about your other options to pay, visit IRS.gov/payments.
- Pay the rest
of your tax as soon as you can. If it is possible, get a
loan or use a credit card to pay the balance. The interest and fees
charged by a bank or credit card company may be less than the interest and
penalties charged for late payment of tax. For debit or
credit card options, visit IRS.gov.
- Use the
Online Payment Agreement tool. You don’t need to wait for
IRS to send you a bill to ask for an installment
agreement. The best way is to use the Online
Payment Agreement tool on IRS.gov. You can even set up a direct
debit installment agreement. When you pay with a direct debit plan, you
won’t have to write a check and mail it on time each month. And you won’t
miss any payments that could mean more penalties. If you can’t use the
IRS.gov tool, you can file Form
9465, Installment Agreement Request instead. You can view, download
and print the form on IRS.gov/forms anytime.
- Don’t ignore
a tax bill. If you get a bill, don’t ignore it. The
IRS may take collection action if you ignore the bill. Contact the IRS
right away to talk about your options. If you face a financial
hardship, the IRS will work with you.
In short, remember to file on time. Pay as much as you can by the
tax deadline. Pay the rest as soon as you can. Find out more about the IRS collection
process on IRS.gov. Also check out IRSVideos.gov/OweTaxes.
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