2390051
I got a notification from TurboTax that 12/31 is the deadline for submitting half of my deferred taxes from last year (from the 2020 CARES Act). I can't pay that amount right now, and so I want to pay this on a payment plan. I already have a payment plan set up with the IRS for my regular past taxes. I tried to amend my current payment plan online, but apparently that function of the website won't be working until after 12/31. As I'm sure you guys have experienced, every time I try calling them, the recording tells me that their call volume is too high and they hang up on me. What can I do?
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The payment date for deferred taxes has been extended to January 3, 2022 for the first half and January 3, 2023 for the second half.
You are correct that you can't amend your current payment plan for income taxes; however, individuals who are unable to pay the full deferred tax amount should pay whatever they are able to pay by the installment due dates to limit penalty and interest charges.
If the installment amount is not paid in full, IRS will send the taxpayer a balance due notice. Taxpayers should follow instructions on the notice to make a payment or apply for a payment plan. They can also visit the Paying Your Taxes page on IRS.gov for additional information about ways they can pay, what to do when they can't pay, and viewing their tax account.
Click this link for more detailed info on Deferred SE Tax Payments.
The payment date for deferred taxes has been extended to January 3, 2022 for the first half and January 3, 2023 for the second half.
You are correct that you can't amend your current payment plan for income taxes; however, individuals who are unable to pay the full deferred tax amount should pay whatever they are able to pay by the installment due dates to limit penalty and interest charges.
If the installment amount is not paid in full, IRS will send the taxpayer a balance due notice. Taxpayers should follow instructions on the notice to make a payment or apply for a payment plan. They can also visit the Paying Your Taxes page on IRS.gov for additional information about ways they can pay, what to do when they can't pay, and viewing their tax account.
Click this link for more detailed info on Deferred SE Tax Payments.
THANK YOU SO MUCH. This is super helpful. I have been freaking out about this, haha. 🙂 I really appreciate all the information!
you can't make a payment by calling the IRS representative.
You can use, EFTPS.gov, or the special automated phone number that will take your payment .
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