topic If owed Federal:... in After you file

If owed Federal:...

girlscout392 — Sat, 27 Mar 2021 04:11:15 GMT

My question is if I owe federal currently because I already filed in February and the new unemployment stimulus $10,200 has not been applied, Do I still need to make the monthly installments to the IRS? Or do I wait until the $10,200 is credited to my Federal Taxes?

Re: If owed Federal:...

Mike9241 — Fri, 26 Mar 2021 20:14:32 GMT

the IRS has no info on how to handle your situation. I assume by monthly payments you mean an installment plan. you should receive documents for the installment plan which has an IRS phone number so call.

my guess will be the IRS will apply the "refund" to the installment plan reducing the amount you owe but you'll still have to make timely monthly payments until your taxes have been paid in full.

Re: If owed Federal:...

girlscout392 — Sat, 27 Mar 2021 02:58:33 GMT

Thank you. We owe starting on the 15th of April. I’m just trying to figure out timing and amount of everything. It’s super confusing. We have a payment plan it’s just that the new stimulus wasn’t attached to it so if we owe less I don’t want to pay out more right now when I can use the money in the bank for mortgage and utilities.