Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 472,096 members


Debt Consolidation Forums US tax system and impact on debt

Still paying on past taxes now owe again



puddlejmpr


Posts: 1522
Credits: 7479.05
[Donate]
Sub: Still paying on past taxes now owe again
Sun, 15/02/2009 11:35

What happens if you are on a payment plan with the IRS already and you fill out your taxes and owe a pretty big amount?

I know, I know change your withholdings. We did that last year, but I guess it wasn't enough :? We still owe the IRS like $600 from last year now we owe $3,344 :shock: I know we won't be able to pay THAT much by 4-15.Can they just add this onto the payment plan I have with them already?

I am just sick :cry: This sucks :x



Article Rating: 
Unregistered

Sub: #1 Payments to IRSSun, 02/15/2009 - 11:35



You don't have to set up an automatic pay from your checking about to pay your taxes. You can use the EFTPS website to make your monthly paymens. You just have to be sure that you enter the correct tax year you are paying on because the website is set up automatically for the current year. If you are paying taxes for 2008 when you go into the EFTPS website you will automatically see 2009. Make sure you change the year to 2008. You have to get a username and a password. It is very simple and it gets taken out of your checking account in 1 day or 2.


2nband
2nband

Posts: 2180
Credits: 46598.478087159

Sub: #2 We paid $50 a month and more if we had it, but the arrangements Fri, 02/06/2009 - 09:37



We paid $50 a month and more if we had it, but the arrangements were for $50 a month. If you owe state, call them and they will probably set up a payment plan for you also.


cntrygirl63
cntrygirl63
Posts: 54
Credits: 1010.95

Sub: #3 Were the payments reasonable? I am not going to owe a large amoFri, 02/06/2009 - 05:53



Were the payments reasonable? I am not going to owe a large amount, but really can't afford to pay too much monthly either. Thanks for all the info - I was stressing out about it. Still have to worry about what I owe the state - hopefully they will also do a payment plan.


2nband
2nband

Posts: 2180
Credits: 46598.478087159

Sub: #4 We just called them and was able to set things up over the phoneThu, 02/05/2009 - 20:10



We just called them and was able to set things up over the phone.


puddlejmpr
puddlejmpr

Posts: 1522
Credits: 7479.05

Sub: #5 I had to pay a $50 fee to set up the direct withdrawl. But otherThu, 02/05/2009 - 18:13



I had to pay a $50 fee to set up the direct withdrawl. But otherwise I really don't think the interest amounts to much. Yes, they want you to get a loan to pay them, it saves them time and paperwork. But when your credit sucks you have no other way but to set up arrangements.

It isn't hard to set up arrangements. If you have someone else do your taxes you can ask for the form to fill out and send that right in with your taxes. I did that one year. But last year I did it on my own. I guess I am going to file my federal and then call them about what I owe this year and see if they can keep me on the same payments for awhile yet.


cntrygirl63
cntrygirl63
Posts: 54
Credits: 1010.95

Sub: #6 I know a couple years ago I talked to the IRS about a payment plThu, 02/05/2009 - 07:50



I know a couple years ago I talked to the IRS about a payment plan and the rep at that time encouraged me to find another option and use theirs as a last resort. So I figure it' won't be cheap, but right now I don't see too many other options. Well I have a month to think about it before I file, see what happens in that time.


2nband
2nband

Posts: 2180
Credits: 46598.478087159

Sub: #7 I am sure that you can. We never had a problem with setting up Wed, 02/04/2009 - 17:40



I am sure that you can. We never had a problem with setting up payment plans with the IRS any time we owed. They do add interest and penelty charges


cntrygirl63
cntrygirl63
Posts: 54
Credits: 1010.95

Sub: #8 That's what I'm thinking, but what if I don't have the money at Wed, 02/04/2009 - 08:40



That's what I'm thinking, but what if I don't have the money at the end of the extension? Can I do the payment plan then? I'm sure that I could make payment all along through the extension, but I dont' see me coming into a fortune between now and July/August. lol


lmale
lmale
Posts: 610
Credits: 9837.4

Sub: #9 You get charge a set fee for the withdraws from your checking acWed, 02/04/2009 - 07:52



You get charge a set fee for the withdraws from your checking account and of course you are being charged interest. I would extend


cntrygirl63
cntrygirl63
Posts: 54
Credits: 1010.95

Sub: #10 Did they charge a fee to do the payment plan? I'm trying to decWed, 02/04/2009 - 06:52



Did they charge a fee to do the payment plan? I'm trying to decide whether to ask for the payment plan or to ask for the 120 day extension. I don't owe a lot ($600) but it's a LOT when you don't have it!


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


Page loaded in 1.653 seconds.