I owe federal taxes this year. Is there a payment plan?

Question

I only owe 400.00 in federal taxes. But that's 400.00 I dont have. Is there a payment plan, any online info, anything???

Answer 1

you have until April 17, 2007 to save up that money and send it in. If not, you can file an extension but then you start owning interest on your tax. But try the sayings plan first. It is about $50 buck a week from now until April 17, 2007 to save that dough.

Answer 2

Coming from someone that owed before yes there is you can call and request it. They will charge a fee for setting the plan up and also calculate an amount. If you don't owe next year they will take the remaining balance out from the refund and you will be squared away.

Tax Pro

Answer 3

there is a payment plan, call the IRS. but for 400 dollars, put it on a credit card. even the loan sharks that are a credit card company give you a better deal on interest and penalty's then the IRS.

read these IRS websites

http://www.irs.gov/taxtopics/tc202.html

http://www.irs.gov/individuals/article/0,,id=149373,00.html

Answer 4

costly T: variety 9465 is your variety (installment contract). there's a cost to set it up yet once you settle to a DD (direct debit) it relatively is extra cost-effective. look on the IRS.gov cyber web website and learn the variety. this suggestion became into arranged in keeping with our information of the tax regulation in result on the time it became into written because it applies to the information which you offered. click on my profile to study extra. Errol Quinn Enrolled Agent grasp Tax consultant

Answer 5

Yes but like everything, it comes with % . . .
Check your options for the lowest % and remember
The $400 isn't due until April , start saving now to avoid %.

Answer 6

i believe you can set up a payment plan with the IRS
http://www.irs.gov