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Get your taxes done using TurboTax
Hi, @MG_214 ! If I understand correctly, you amended your return to add the second W-2, is that right? When did you do that? Did you e-file the amendment, or mail it in? These are all factors in determining why your account is not yet showing a balance due.
As to paying the balance, my advice is to do so as soon as you possibly can. The IRS is the last creditor that you want to have. 🙂 But if you are genuinely unable to pay the balance, then you can request a payment plan with the IRS. Penalties and interest generally apply on all late tax payments. The Failure to Pay Penalty is generally 0.5% per month, and I believe the current interest rate is 7% per year. Hope this helps!
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‎May 24, 2023
10:05 AM