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Tax question I have been under an Installment Tax Agreement…

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Tax questionI have been under...
Tax questionI have been under an Installment Tax Agreement with the IRS for the past three years for $580.00 per month or $6,960.00 in years 2015 and 2016The installment payment covers prior tax years 2008, 2010, 2011 and 2012.Is any or all of this payment deductible in the current year/ year it was actually paid? If so , how would I enter it on my return?
Submitted: 9 months ago.Category: Tax
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Answered in 1 minute by:
10/13/2017
Tax Professional: Barbara, Enrolled Agent replied 9 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,424
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Unfortunately, federal income tax payments are NOT deductible on your tax return.

I wish I had better news for you.

Thank you and best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 9 months ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

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