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I have to pay my income tax, about $8,000.00 but I have just 5,000.00. Can I pay Abril/15 $5,000.00 and in July $3,000,00??????????????????????????
Submitted: 1358 days ago.
Category: Tax
Value: $9
Status: AWAITING CUSTOMER ACTION
Answer
IRS would prefer that you complete and send in with your return a Form 9465 (Installment Agreement Request). On that form you tell IRS how you would like to pay the balance due on your return. IRS may accept your payment plan you outlined above, but they will charge interest on the balance not paid by April 17, 2006. They may also not accept the instllment agreement and tell yuu to pay in full. Then you have just lost the user fee.
On the other hand, you could pay them as you stated above without filing that Form 9465 and paying the user fee they charge for the use of that form. They will take your money and still charge you interest until the full balance is paid.
Expert:
Wayne Brasch
Pos. Feedback:
99.6 %
Accepts:
Answered:
3/5/2006
Accountant and Business C&onsultant
Master of Science in Taxation. Tax experience since 1963.