I owe Federal and State taxes, but I am unemployed. What are my options?

sanchez-lizzy8 — Mon, 03 Feb 2020 21:19:45 GMT

Re: I owe Federal and State taxes, but I am unemployed. What are my options?

bluedeb — Mon, 03 Feb 2020 21:27:57 GMT

If you cannot pay the full amount of Federal taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest (the penalty & interest does accumulate until the taxes are paid in full. See the following for some information

https://www.irs.gov/payments/alternative-payment-plans-hardship-information

You also should contact the IRS to discuss your payment options at 800-829-1040. The agency may be able to provide some relief such as a short-term extension to pay, an installment agreement or an offer in compromise, or by temporarily delaying collection by reporting your account as currently not collectible until you are able to pay.

In some cases, the agency may be able to waive penalties. However, the agency is unable to waive interest charges which accrue on unpaid tax bills. For more information, see The Collection Process and Tax Payment Options

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For State taxes, you could also request a payment plan or ask if they offer a hardship case, you can contact your State's Taxing Agencies. Click on the following link for a list of states, click on your state to go to their website

http://www.statelocalgov.net/50states-tax-authorities.cfm

topic I owe Federal and State taxes, but I am unemployed. What are my options? in Get your taxes done using TurboTax

I owe Federal and State taxes, but I am unemployed. What are my options?

Re: I owe Federal and State taxes, but I am unemployed. What are my options?