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I owe $1500 federal. Is it better to pay the back amount and then file this year? Or let them take it from this year's refund?

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Anita01
New Member

I owe $1500 federal. Is it better to pay the back amount and then file this year? Or let them take it from this year's refund?

If you are going to file soon, it won't make much difference.  The thing to remember about past tax owed is that interest accumulates on it, so whichever way you can pay it the soonest, the less interest you will pay.

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1 Reply
Anita01
New Member

I owe $1500 federal. Is it better to pay the back amount and then file this year? Or let them take it from this year's refund?

If you are going to file soon, it won't make much difference.  The thing to remember about past tax owed is that interest accumulates on it, so whichever way you can pay it the soonest, the less interest you will pay.

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