I'm just wondering if I can pay taxes with more than 1 transaction when paying by a credit card. Let's say I owe a $10,000 tax. I recently opened a new credit card to pay the tax with tatt but the credit limit is unfortunately $6,000. In this case, I'd pay $6,000 first then pay that off, then pay the rest amount which is $4,000. I'll file it through TurboTax. Is this a possible scenario?
Yes, but not in Turbotax. In Turbotax, select you will "pay by mail" or "pay by check". That way you can e-file without making a payment. Then go to www.irs.gov/payments and you can make payments directly to the IRS, and you can split what you owe into more than one payment if you want. If this is for your 2022 taxes, be sure to select "2022 from 1040" from the menu, rather than "2023 estimated taxes".
Be aware that if you owe taxes for 2022 and haven't filed yet, there is a "failure to file" penalty of 5% per month of what you owe, plus interest at about 0.5% per month. If you got an extension to file, you were still required to pay by April 17, so there will be a "late payment" penalty of 0.5% per month plus interest. If you don't include the penalty with your tax return, the IRS will send you a bill.
Thanks for the answer! I'm a CA resident and applied for the extension caused by the winter storm, so the late fee wouldn't affect my case though. I will make payment directly through the IRS website. Thanks!
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