Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
94f854ae7410
New Member

I owe federal funds and wanted to set up pmts of $50 a month not $432.00.

 
4 Replies
Anonymous
Not applicable

I owe federal funds and wanted to set up pmts of $50 a month not $432.00.

 
Anonymous
Not applicable

I owe federal funds and wanted to set up pmts of $50 a month not $432.00.

did the IRS set this amount? if so, they probably won't agree with your proposal.  an offer in compromise would probably be better for you if you qualify. 

https://www.irs.gov/payments/offer-in-compromise

 

xmasbaby0
Level 15

I owe federal funds and wanted to set up pmts of $50 a month not $432.00.

Where are you seeing $432?  Did you print out your tax return and get printed vouchers?  Look carefully at them.  If you are paying your 2019 tax due all at once, you use the one that says 1040V.   There may be four other ones that say 1040ES.  Those are not for paying 2019 tax in payments.  They are for paying estimated 2020 quarterly payments during the year so you can avoid a big tax bill next year.

 

Or did you actually set up a payment plan with the IRS?  Did the IRS send you something telling you how much your payments are to be?

 

https://www.irs.gov/payments/online-payment-agreement-application

**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.**
fanfare
Level 15

I owe federal funds and wanted to set up pmts of $50 a month not $432.00.

IRS insists you pay it off within a reasonable time period. You can't stretch it out forever.

Dynamic AdsDynamic Ads
v
Privacy Settings