2007-03-01 08:22:23 · 6 answers · asked by rayray 2 in Business & Finance ➔ Taxes ➔ United States
Yes, you can pay the IRS in installments.
You can make estimated tax payments through the year. If you have a balance due after April 17th, you can pay your balance on an installment plan if you have not defaulted on an installment plan in the past.
You still pay interest on your outstanding balance, so in effect you are borrowing from the IRS.
Before deciding to pay your balance due on an IRS installment plan, check to see if you can borrow the money any where else. A credit card, a credit union, a bank, a family member will all probably charge less interest and fees than the IRS.
2007-03-02 15:42:41 · answer #1 · answered by AngeloElectro 6 · 0⤊ 0⤋
Yes, look at the links below. You will need to mail in a Form 9465 to the IRS and they will respond. If you owe less than $10,000.00 they cannot turn you down for installments.
2007-03-01 16:31:23 · answer #2 · answered by R Worth 4 · 1⤊ 0⤋
You can pay portions but what you do not pay on time you will be charged interest. If you are in a bind and can not pya call the irs and asked them.
2007-03-01 16:27:53 · answer #3 · answered by gelcsics 2 · 0⤊ 1⤋
Yes you can make estimated payments during the year it eases the pain you feel after completing you tax return for the year.
2007-03-01 16:27:34 · answer #4 · answered by erick 2 · 0⤊ 3⤋
Yes.
2007-03-01 16:45:17 · answer #5 · answered by Anonymous · 0⤊ 1⤋
yes they are called estimates....get the vouchers and envelopes from a tax preperation place.
2007-03-01 16:28:20 · answer #6 · answered by Anonymous · 0⤊ 3⤋