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I need to make payment for what i owe in 8 payments of $220 a month is this possible?

owe 1765 but need it broken down into 8 payments how can i do this>
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3 Replies

I need to make payment for what i owe in 8 payments of $220 a month is this possible?

Visit IRS.gov to apply for installment payments

 

@carolenam18-outl 

I need to make payment for what i owe in 8 payments of $220 a month is this possible?

To apply for a payment plan with the IRS

 

Apply Online for a Payment Plan

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I need to make payment for what i owe in 8 payments of $220 a month is this possible?

If you are filing your 2023 taxes, and you owe $1700, then first, you should expect to receive a bill for a late payment penalty and interest, even if you got an extension on the deadline to file.

 

In Turbotax, when you are ready to file, tell turbotax "I will pay by check".  This will allow you to file your return without including a bank withdrawal for the whole amount.

 

Then, if you think you can pay off your debt in 4 months or less, don't bother with a payment plan.  Just pay as much as you can as fast as you can.  Go to www.irs.gov/payments to make electronic payments for your 2023 tax return.

 

If it will take longer than 4 months to pay your taxes, you should still pay as much as you can now, at the web site, then go to the IRS to request a payment plan.  There is a non-refundable application fee.  Getting on a payment plan will reduce some of your late payment penalties, but you will still owe interest.

https://www.irs.gov/payments/payment-plans-installment-agreements

 

 

If you are talking about estimated payments for your 2024 tax return, please explain in more detail.

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