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Are installment payments for past taxes, tax deductible

 
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Are installment payments for past taxes, tax deductible

For a federal tax payment plan, no, that is not deductible at all.

For a state tax payment plan, you can deduct the amount for taxes in the year that you pay it, but not any penalties or interest, only the tax.

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Alumni

Are installment payments for past taxes, tax deductible

For a federal tax payment plan, no, that is not deductible at all.

For a state tax payment plan, you can deduct the amount for taxes in the year that you pay it, but not any penalties or interest, only the tax.

View solution in original post