Filing your tax return and paying
what you owe on time is always best. But if you can’t pay in full, you still
need to file on time and pay what you can. In most cases… you have options for how to make
your payments. You can pay by direct debit from Your bank account, or you can pay online, by card,
by phone, from your mobile device, or by check. If you can’t pay your taxes in full, then consider
an IRS payment plan for the rest of what you owe. By setting up a payment plan online…
you have fast… easy and secure options To use at your convenience without the
need to call or write for assistance. And you will get immediate confirmation
that your payment plan is approved. Here’s some information you’ll need to know about The IRS online payment plans
and installment agreements: If you can’t pay in full immediately and
owe $100,000 or less, you may qualify for Additional time- up to 180 days- to pay in full. There’s no fee for this short-term payment plan. However, interest and any penalties continue
to accrue until what you owe is paid in full. If you’re not able to pay your balance in full
immediately or within 180 days, you may qualify For a long-term payment plan which allows you to
make monthly payments towards the amount you owe. You may qualify for this plan if
you owe 50 thousand dollars or less, Have filed all required returns, and can
pay the balance within 72 months or less. A setup fee is charged based
on how the payments are made; However, setup fees are waived or
reduced for low-income taxpayers. Like short-term plans, interest
and penalties continue to accrue For long-term payment plans until
the amount you owe is paid in full. Accounts in long-term plan status are
protected from enforcement action and Receive a more beneficial
penalty rate calculation. Businesses that owe 25-thousand
dollars or less from the current And prior calendar year and who can pay
off what they owe in 24 monthly payments Or less may also qualify to use the online
application to set up a long-term plan. To use our online self-service channels, You will first need to verify your identity
through a quick, safe, and secure process. And, if you already have a payment plan, you can
use our Online Payment Agreement tool to make Revisions such as changing payment dates, amounts
or bank information if you paid by direct debit. You can also securely view your balance, payments,
tax records and more through your online account. You can also use your online
account to find important Information when following
up on balances or notices.
Visit i-r-s-dot-gov-slash-account for More information about how to
set up your online account. To get started setting up an online
payment plan or installment agreement With the IRS Online Payment Agreement
tool… go to irs.gov/paymentplan.
