Owe Back Taxes?

Owe Back Taxes?

worried_about_a_billIf so, don’t ignore the tax bill.  A delay may cost more in the end.  The penalties and interest can continue to grow.

There are several ways to make payments to the IRS:

  • On-line using Direct Pay – This web-based system allows you to make payments directly from your checking or savings account.
  • Electronic Funds Withdrawal when efiling
  • Pay by debit or credit card. This can be done online, by phone or with a mobile device. The IRS does not charge a fee, but the payment processor may charge a convenience fee.
  • Download IRS2Go on your mobile device

If you are unable to make a payment in full, you may be able to make monthly payments.  To apply for an installment agreement, use the IRS ‘Online Payment Agreement Tool. Prior to applying, you must file all of the required tax returns.

Who is eligible to apply for a monthly installment agreement?

    • Individuals who owe $50,000 or less in combined  tax, penalties and interest and have filed all required returns
    • Businesses that owe $25,000 or less in combined tax, penalties and interest for the current year or last year’s liabilities and have filed all required returns

YouTube Video – IRS Taxes – Three Easy Ways to pay

Colleen Minnich

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