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How to report taxes if nothing finished paying?

I wasn’t sure if this should go in after file or not so I put it here

 

It is likely I may not finish paying my 2020 taxes with the payment plan by the end of 2021.

 

What do I report when it comes time to file my taxes? The original amount pre payment plan or what I have paid so far?

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4 Replies

How to report taxes if nothing finished paying?

You do not report the federal taxes owed or paid for a prior tax year on a federal tax return.

How to report taxes if nothing finished paying?

That is not reported on your income tax return.

How to report taxes if nothing finished paying?

You do not enter anything in your 2021 tax return about the federal tax you paid for your 2020 tax due.   It is not deductible, and there is no place to enter anything on a new federal tax return about how much you paid the previous year.   If you still owe on the payment plan, then any refund you could get for 2021 will be offset by the amount you still owe to the IRS.  The IRS knows how much you owe, and will do the calculations.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

How to report taxes if nothing finished paying?

Any refund you get in the future will be applied to your installment plan until the installment plan is paid off.

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