Hey everyone, my taxes are done and I owe more to the feds than I thought. I don’t have enough money to write a check or put on my credit card, so I’m trying to get a payment schedule started. The only thing is that the instructions say you can’t do another payment schedule if you did one in the last five years. I did one about three years ago and paid everything I needed to. How likely do you all think that the IRS will refuse to accept my payment schedule and demand full payment at once, and why would this be a problem for them? I will be in lots of trouble if they try to pull the full $2,500.00 out of my checking account. Please let me have your best advice in this situation. TIA
Call them and find out. That’s really all you can do.
Though they have several different plans, and I suspect that you can just use an alternate plan with less stringent requirments. They want their money, and are willing to work with you if it increases the chances of you sending that money.
Yes, just call them. You may be surprised how willing they are to work with you. All they want is the money, and they are willing to wait for it if they have to.
I did not see anything about the 5 year thing on the IRS site or the form they provide online. The only eligibility requirement I’ve found is:
And just below that:
Thanks, DCnDC, I fit into those requirements, so I’ll just keep on with the payment schedule I have, and call them in a few days.
Don’t overpay though. We did a payment plan for years and when I called to do a settlement the statute of limitations had run out and they owed me money. Imagine my surprise.
Who is this They? It’s we, all of us taxpayers.