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Tips for Taxpayers Who Can’t Pay Their Taxes on Time

Friday, April, 12th, 2013 at 9:06 am

If you find you owe tax after completing your federal tax return but can’t pay it all when you file, the IRS wants you to know your options.

Here are four tips that can help you lower the amount of interest and penalties when you don’t pay the full amount on time.

1. File on time and pay as much as you can.

Filing on time ensures that you will avoid the late filing penalty. Paying as much as you can reduces the late payment penalty and interest charges. For electronic payment options, see IRS.gov. If you pay by check, make it payable to the United States Treasury and include it with your return.

Read full article on irs.gov

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