2007-04-29 02:44:50 · 4 answers · asked by Laverne D 2 in Business & Finance ➔ Taxes ➔ United States
The best thing for you to do is contact the irs and make payment arrangements with them so that your -$644 wont be turned into alot more. once you have a payment arrangement with them make sure you pay all your payments on time or there will be penalties. you can always check out the website, irs.gov for more information. Good Luck!
2007-04-29 05:37:14 · answer #1 · answered by Celz 2 · 1⤊ 0⤋
First of all you cannot pay what you don't have so wait for them to bill you with the penalty but for now work on ways to scrape up as much as that $644 as you can in the shortest amount of time to get it paid off. The IRS is not the place you want to owe money to because more than money, you are gonna lose sleep to worry. Sell stuff from around your home, take a part time job, borrow from friends, and get that $644 paid off within the next month or two doing whatever you have to do. The longer you put off paying the higher the penalty and interest so concentrate... FOCUS... and make that a priority!!!
2007-04-29 09:50:28 · answer #2 · answered by Anonymous · 0⤊ 2⤋
See http://www.irs.gov/taxtopics/tc653.html
If you filed on time but didn't pay, the penalty will probably be 1/2% per month or partial month, plus interest.
2007-04-29 10:57:34 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
There usually is no penalty unless your were very negligent or very fradulent. You will, however, be responsible for interest.
2007-04-29 12:11:18 · answer #4 · answered by mukwonago53149 5 · 2⤊ 1⤋