On Monday, April 3, 2023 at 8:04:08 AM UTC-7, Stuart O. Bronstein wrote:
"Rick" <ri...@nospam.com> wrote:
My son just realized he and his wife will owe $5000 on their joint
taxes for 2022, due mainly to his wife starting a new job in 2022
and not calculating her exemptions correctly (i.e.,
under-withholding). They plan to file their return on time using
online tax software, but would like to spread out the $5000
payment over several months. What options are available to set up
a payment plan online, and what are the current interest
rates/penalties they would need to pay?
They should be able to get an installment arrangement without trouble.
With that amount owed, it can be automatic, with no approval required -
it's all on line. Go here:
https://www.irs.gov/payments/online-payment-agreement-application
--
Stu
http://DownToEarthLawyer.com
In addition to Stu's reply, there are millions of taxpayers who have had their tax return due dates and tax payment due dates extended to July 31 or Oct. 16 because of federally declared disasters. Go to the following website and click on the year 2023
to see if you are eligible. You don't need to have actually suffered a disaster. The Oct. 16th date is applicable to certain areas of CA, AL & GA. July 31 is applicable to certain areas in AR & MS. There is even some short-term relief for certain area
in NY.
--
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