Yes, you can make installment payments on the tax you owe.
Federal tax due: The IRS will let you pay off your federal tax debt in monthly payments through an installment agreement.
If you haven't filed yet, go through the File section of TurboTax until you reach the screen How do you want to pay your federal taxes? Select the installment payment plan option, click Continue, and follow the onscreen instructions.
If you already filed, you can apply for a payment plan at the IRS Payment Plans and Installment Agreements web page (make sure you've filed your return before applying through their site).
NJ State tax due: If you are interested in a payment plan to pay your individual owed to the State of New Jersey Division of Taxation please read the guidelines outlined below. You must complete the Deferred Payment Control Request Form. Click on the link below to review the instructions and access the form.
http://www.state.nj.us/treasury/taxation/dpc.shtml
Related Information
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