I owe quite a bit for my 2024 taxes - I already filed and set up a payment plan. The amount I can afford right now seems to be barely covering the interest and penalties. What are my options to get out of this hole?

user17581268737 · ‎September 17, 2025

Jennifer_A

Managing back taxes can be difficult especially when there are other financial obligations. But there are solutions to help balance and some can be used interchangeably.

1. Pay towards the bill when possible. This would have more go towards the principal balance.

2. Increase payroll withholdings so that the 2025 refund goes towards the 2024 bill.

3. Call the IRS to revise the installment amount 800-829-1040

4. Temporarily Delay the Collection Process

5. Submit an Offer in Compromise

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I owe quite a bit for my 2024 taxes - I already filed and set up a payment plan. The amount I can afford right now seems to be barely covering the interest and penalties. What are my options to get out of this hole?

I owe quite a bit for my 2024 taxes - I already filed and set up a payment plan. The amount I can afford right now seems to be barely covering the interest and penalties. What are my options to get out of this hole?

Unlock tailored help options in your account.

Get more help

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I owe quite a bit for my 2024 taxes - I already filed and set up a payment plan. The amount I can afford right now seems to be barely covering the interest and penalties. What are my options to get out of this hole?

Do you have an Intuit account?

I owe quite a bit for my 2024 taxes - I already filed and set up a payment plan. The amount I can afford right now seems to be barely covering the interest and penalties. What are my options to get out of this hole?

Unlock tailored help options in your account.

Get more help

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