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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 2497
Experience:  Nearly 30 years of varied tax industry exp. Tax Biz owner
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I owe back taxes and have a payment plan in place. I was told

Customer Question

I owe back taxes and have a payment plan in place. I was told if I didn't pay my 2012 taxes in full I would be in default. I will have the money but it will be later than April 15. I am self-employed so don't have my taxes taken out. My question is, will I still go into default if I file a form 4868? I can probably pay the entire bill by June 1, maybe sooner. I was told if I file without paying I would be in default, so I don't want to file until I can file and pay the entire bill.
Submitted: 1 year ago.
Category: Tax
Expert:  Tax.appeal.168 replied 1 year ago.
Welcome. THANK YOU for choosing Just Answer. My goal is to help make YOUR life, a little...LESS taxing.

Many people have the misconception that filing the Form 4868 extends the period for paying taxes that are due, this is incorrect, filing the form 4868 is ONLY an extension of time to file the paperwork, not to pay any taxes that are due. However, don't fret yet, the IRS does have a special payment plan that is offered to some taxpayers who are unable to pay their tax bill by April 15 due to undue hardship. As you are already on a payment plan, I don't know if requesting an extension of time to pay will work in your case, but it is worth a try. The Form is the Form 1127-A.

Link to Form 1127-A/instructions:

http://www.irs.gov/pub/irs-pdf/f1127a.pdf


My suggestion would be to call the IRS, explain to them your situation, and ask them if you qualify for the extension of time to pay.

Please let me know if I can be of further assistance to you regarding this matter.

Thank you again for using JUST ANSWER.
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 2497
Experience: Nearly 30 years of varied tax industry exp. Tax Biz owner
Tax.appeal.168 and 5 other Tax Specialists are ready to help you
Expert:  Tax.appeal.168 replied 1 year ago.

Dave,

Thank you for the high rating and generous bonus. I do appreciate it. Even if prompted to do so, there is no need to respond to this post. A colleague reminded me of the following info; "the IRS will always default a payment plan that is in place if you do not pay the current year's tax by the due date. However, the IRS will send a letter stating you are in default, but all that is needed is to contact them to put the payment plan back into place with the amount due from the current year." My suggestion would be not to wait to receive a letter from them, but to be proactive and call them and let them know your situation as I suggested in my previous response.

 

 

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