turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Owing IRS

What do I do if I owe so much I can't pay it?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Owing IRS

To apply for a payment plan with the IRS

 

Apply Online for a Payment Plan

**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.**
SwapnaM
Employee Tax Expert

Owing IRS

Different options to pay the IRS:

 

 Credit cardYou can pay for your federal taxes with your credit/debit card through a third-party payment processor. The processor charges a convenience fee.

 

Short term payment plan: Pay amount owed in 180 days or less

 

Long term payment plan: Pay amount owed in monthly payments

https://www.irs.gov/payments/payment-plans-installment-agreements#costs 

 

Offer in Compromise: An Offer in Compromise (OIC) is a program offered by the IRS that allows you to settle your tax debt for less than the full amount you owe, if you meet certain criteria. It’s designed for taxpayers who are unable to pay their full tax liability or doing so would create a financial hardship.

https://www.irs.gov/payments/offer-in-compromise 

 

If you owe a tax debt and can't pay all or part of it, the IRS can help. https://www.irs.gov/payments/get-help-with-tax-debt They can temporarily delay collection until your financial condition improves.

 

@user17576951830 Thanks for the question!!

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question