can you finance your tax return debt?

Answer 1

Yes you can. You can set up payments with the IRS as long as you don"t have an outstanding balance from prior years.

Answer 2

Kind of. You can get a signature loan from a bank and use the money for whatever you want. You could take a home equity loan or line of credit and pay off your tax owed. You can also fill out a form for the IRS that will allow you to make payments of tax money owed. You will pay interest on the amount you owe, but at least it keeps you out of further trouble with them. None of the three is actually financing your tax owed, but it comes down to the same thing.

Answer 3

You can enter a payment installment agreement with the IRS to allow you to pay your taxes over time.

The IRS will allow you to pay your tax liability over time so long as you file the required forms, have no existing tax debt from a prior year, and agree to pay interest on the tax owed. So basically you can buy several months time to pay your taxes from the IRS.

Remember though that the IRS isnt a bank and as far as they are concerned you and they are supposed to be squared away as of April 15. Dont think about missing payments or anything because they arent into "negotiating" so much as they are into "demanding". If you think it will take you a lot of time to pay off your tax debt then you really should consider another source of money whether it be a bank loan, borrowing from family, etc. The IRS even admits that their payoff plan isnt, "great."

Also with regards to a loan for paying off tax debt, be careful. A personal loan from some banks cannot be used to pay off a tax debt. So if you apply for a personal loan from a bank and they ask you what you are using it for, you say you are buying some furniture. Get it?

Answer 4

If you have a job any FDIC insured bank can loan you the money