Lets say you have a 1099 and you cant pay all the money at the time you file,do they set up a payment plan or how do you go about that?
2007-10-02 00:48:36 · 5 answers · asked by yeah!!! 3 in Business & Finance ➔ Taxes ➔ United States
The IRS lets you pay in installments. Details of its installment plans here:
http://www.irs.gov/taxtopics/tc202.html
2007-10-02 00:54:18 · answer #1 · answered by Paul M 3 · 1⤊ 0⤋
You would need to file paperwork for a payment plan, but yes, the IRS does offer payment plan options to you.
2007-10-02 07:51:37 · answer #2 · answered by kja63 7 · 1⤊ 0⤋
I'm sure they do. That's the wonder of the government.
Imagine that a guy robbing you at gun point when your pockets are empty. The "poor" guy has to go away empty handed. It would be great to allow you to have a payment plan. And if you fail to pay, the robber gets to shoot you, you still owe him the money and the cost of the bullet is added to your tab...
Hey! that's exactly what the government is doing with the taxes!!!!
2007-10-02 08:06:52 · answer #3 · answered by Anonymous · 0⤊ 2⤋
Talk to the IRS. Yes, they'll set up a payment plan.
2007-10-02 11:40:30 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
You can set up payment options, but they charge big interest.
2007-10-02 07:53:16 · answer #5 · answered by Classy Granny 7 · 0⤊ 1⤋