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deb53duf
New Member

If I owe on my tax return: 1) How do I pay for it and, 2) Can I pay it off over a period of time?

 
1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

If I owe on my tax return: 1) How do I pay for it and, 2) Can I pay it off over a period of time?

 

The best thing you can do is pay it before April 18 this year. If you can't you can fill out Form 9465 Installment Agreement Request. You will be liable for penalties and interest.  TurboTax will give you this option during the Filing section.

Understand your agreement & avoid default

  • Your future refunds will be applied to your tax debt until it is paid in full;
  • Pay at least your minimum monthly payment when it's due;
  • Include your name, address, SSN, daytime phone number, tax year and return type on your payment;
  • File all required tax returns on time & pay all taxes in-full and on time (contact us to change your existing agreement if you cannot);
  • Make all scheduled payments even if we apply your refund to your account balance; and
  • Ensure your statement is sent to the correct address, contact us if you move or complete and mail Form 8822, Change of Address (PDF).

For complete information, see https://www.irs.gov/individuals/payment-plans-installment-agreements

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1 Reply
Coleen3
Intuit Alumni

If I owe on my tax return: 1) How do I pay for it and, 2) Can I pay it off over a period of time?

 

The best thing you can do is pay it before April 18 this year. If you can't you can fill out Form 9465 Installment Agreement Request. You will be liable for penalties and interest.  TurboTax will give you this option during the Filing section.

Understand your agreement & avoid default

  • Your future refunds will be applied to your tax debt until it is paid in full;
  • Pay at least your minimum monthly payment when it's due;
  • Include your name, address, SSN, daytime phone number, tax year and return type on your payment;
  • File all required tax returns on time & pay all taxes in-full and on time (contact us to change your existing agreement if you cannot);
  • Make all scheduled payments even if we apply your refund to your account balance; and
  • Ensure your statement is sent to the correct address, contact us if you move or complete and mail Form 8822, Change of Address (PDF).

For complete information, see https://www.irs.gov/individuals/payment-plans-installment-agreements

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