@cyndee5101 - Ok, got you. Sure but not the way you think exactly. You would file your taxes and make an overpayment and then tell them to apply to next years taxes.
If you think about it you wont know how much to pay next year until next year. Your earned income will be different, and taxes and deductions get changed for the next year all the time.
So lets pretend that you are in 22% bracket, and you are repaying $33,000 a year for three years. Well you know that your taxes (IF EVERYTHING STAYS THE SAME NEXT YEAR) will be $7260 for that $33,000.
If your total tax is let's say $17,000, just send in $7000 more, for a total of $24,000 and have them apply the excess payment this year to next years return.
Hope that makes sense. What a system, LOL, We need a flat tax YESTERDAY.
With the way the economy is right now, I would lean towards NOT paying off debt with a fixed interest rate (in this case 0%) now if I could. Why not pay it off with inflated dollars next year?
