Owe the IRS? | Charlotte Tax Accountant | Charlotte Accountant

Owe the IRS?

When you owe the IRS, they put big pressure on you to pay immediately or to set up a payment plan.  Watch out!  The fee to set up a plan is $105!  If you can pay your balance in three months or less, send what you can now, wait for the next bill, send more, then pay the balance with the third billing.  Save the $105.

If you will need more time, ask for a payment plan.  If you agree to have payment debited directly from a checking account, the cost to set up the plan drops to $52.

If the amount you owe the IRS is more then you can afford to pay, then you should consider an Offer in Compromise.

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Owe the IRS

Owe the IRS? | Charlotte Tax Accountant | Charlotte Accountant