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There are two options and both are controlled by the IRS:
1) You can call the phone number on your monthly payment statement and add the additional taxes to your current installment plan.
2) You can wait and keep paying your monthly payments. When your return is processed and it shows you owe additional taxes, the IRS will default your payment arrangement and send you a notice. You can then call them up and set up a new installment agreement to cover all amounts owed.
There are two options and both are controlled by the IRS:
1) You can call the phone number on your monthly payment statement and add the additional taxes to your current installment plan.
2) You can wait and keep paying your monthly payments. When your return is processed and it shows you owe additional taxes, the IRS will default your payment arrangement and send you a notice. You can then call them up and set up a new installment agreement to cover all amounts owed.
if I go with the 2nd option and wait till payments are completed, wouldn't there be additional interest owned
payment plan set up already
thanks
Penalties & interest will continue to accrue as long as there is an outstanding balance so the faster you pay the better.
I have been trying for 2 months to call the number listed to add my present balance to my existing installment plan. The only response I get is "Due to high call volume, We can't take your call, call back at a later date". The longer I wait penalties and interest accrue. Is there any other way?
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