Pay your taxes in installments

If you owe Uncle Sam this year, you may be eligible for one of several installment plans that the IRS uses to help taxpayers pay their taxes.  Most people assume that they will simple file for an extension and have more time to pay their taxes. However, that is not the case.  If you fail to pay any taxes owed with the extension request, you may be charged interest and penalties when you do file your tax returns in a few months.  If you owe, it is better to file your returns and request an installment plan.

Information about IRS installment plans can be found here, “Legal How-To: Paying Your Taxes in Installments.”

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