I owns around $128,000 federal tax in 2020. I don't have enough cash to pay it. I found the Short-term payment plan, however, it requires:
You may qualify to apply online if:
- Long-term payment plan (installment agreement): You owe $50,000 or less in combined tax, penalties and interest, and filed all required returns.
- Short-term payment plan: You owe less than $100,000 in combined tax, penalties and interest.
Can I pay some (like $50,000) of my tax liability and pay the rest ($78,000) with the Short-term payment plan?
Thanks,
