i owe $432.00. What will be the best payment arrangement for me. I cant pay this amount once. Can I have the idea of the interest.Any help
Am I qualify for 120 days extensionor should i do payment deductions from my checking account
2007-03-25 02:24:45 · 2 answers · asked by yankieby 1 in Business & Finance ➔ Taxes ➔ United States
An extension only gives to the right to FILE late, not to PAY - you are required to pay in enough to cover what you owe by April 17 when the extension request is due. So filing for an extension doesn't change anything about when the payment is due.
If you can't pay it all right away, send in what you can with your return, but file by the deadline to avoid additional penalties. The IRS will contact you about a payment plan, or you can call them. The interest rate is 8%.
2007-03-25 03:33:17 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
take the extension and pay in full at the end of it.
2007-03-25 09:28:27 · answer #2 · answered by Anonymous · 0⤊ 5⤋