During the filing process, TurboTax gives you payment options to choose or you can wait and submit payment when billed by the fed or state. Your return has a document Form 1040V which is a voucher you can use to pay.
If a customer has a balance due, they don’t need to wait to file their taxes if they can’t pay.
Tax owed on the tax return is not due until the tax return deadline. This means you can file your taxes today and not pay the IRS or state until the tax return deadline.
For 2020, the federal tax deadline is May 17, 2021, and state deadlines have also been extended.
Customers who can pay by the deadline
Customers who can pay by the deadline should select their preferred method of payment in TurboTax. See the options for payment in this External FAQ: How can I pay my federal taxes?
Customers who can’t pay by the deadline
Customers who can’t pay by the deadline should still file their taxes on time. Filing on time avoids penalties.
There are a few options for customers who are unable to make their payments by the deadline:
Payment Plans
Applying for IRS short-term payment plan (Customer can pay tax bill within 120 days or less)
Applying for an IRS installment plan (Customer can pay tax bill in 121 days or more)
Paying on an installment agreement
State Payment Plans
Customer Commonly Asked Questions
TurboTax Links:
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