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What If I Cannot Pay All The Taxes I Owe?

If you cannot pay the balance due with the return, FILE IT ON TIME anyway, paying whatever you can with the return. This prevents the late filing penalty, which is ten times that of the late payment penalty. You will be billed for the tax and related interest and penalties.

If you will be unable to pay the remaining balance due within a reasonable period of time after filing, you may want to apply for an Installment Agreement, using Form 9465. This method requires that you indicate how much you can pay per month, and what date of the month the payments will be made. There is a user fee of $43 for such an agreement, which will be billed by the IRS with your first installment due. NOTE: If you are on an installment agreement, be sure that your CURRENT year taxes are being paid on time. If you end up owing money you cannot pay for the current year, your previous year installment agreement may be voided.

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We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017