You can only income average if you have a business that fluctuates in income such as a retailer that experiences spikes in income during holiday or special days event like Valentines day or Halloween.
At this point, when you finish your return, it will ask you if you wish to do an installment loan agreement for the unpaid taxes. You might consider this alternative. To quickly access this agreement. Here is some information.
- If you haven't filed yet, step 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, Continue, and follow the onscreen instructions.
- If you already filed, or you're unable to find this option in TurboTax, you can apply for a payment plan at the IRS Payment Plans and Installment Agreements webpage (make sure you've filed your return before applying through their site).
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