I accidentally set up a payment plan to pay 2018 tax bill. I’ve already filed. Can I make a lump sum payment to avoid fees?

When we realized we owed more than $2k on taxes this year, I had played around with turbotax’s Online forms and was trying to figure out if there were penalties for paying in installments.

Apparently I left it like that even though I have the money to pay what we owe now. Can I send a lump sum payment to the IRS with my 1040-V

794

Level 3

Jun 3, 2019 4:30:33 PM

See below on how to cancel your payment plan.

"After an installment agreement is approved, you may submit a request to modify or terminate an installment agreement. You may modify your payment amount or due date by going to IRS.gov/OPA. You also may call 800-829-1040 to modify or terminate your agreement." https://www.irs.gov/instructions/i9465#idm139763899872464

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I accidentally set up a payment plan to pay 2018 tax bill. I’ve already filed. Can I make a lump sum payment to avoid fees?