- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
I currently have no payment plan.
Topics:
posted
June 3, 2019
11:36 AM
last updated
June 03, 2019
11:36 AM


1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 3, 2019
11:36 AM
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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.
June 3, 2019
11:36 AM
Still have questions?
Make a post