Your best bet is to get set up on a payment plan with them. You can do it online. They’ll divide the payment by 72 months .. and it comes out automatic withdrawal.
That would amount to roughly $35 a month if your balance due is $2,500.
Or, you can pay by credit card.
Or, if you haven’t actually filed the return yet, you can file an extension and wait to file the return until October 15. Maybe by then you could pay part of it.
The interest and late payment penalties until October 15 wouldn’t be that much.
Just don’t go past October 15 … because that’s when the bigger penalty kicks in.
If you have other questions, feel free to PM me. But … definitely take a look at your withholding. You don’t want to be in the same position next year!
I hate to be Debbie Downer .. but the computer system will just spit out tax notices until you pay it.
Which … unfortunately … then causes arguments in your home. No human irs agent will look at a balance that low.
And, they’ll just take it from your refund next year.
But … meh … I’m ready for the whole thing to be abolished.
Now that we know for a fact that our money has been wasted, mis-used, absconded with … it’s time. Shut it down and salt the earth.
People keep asking me … won’t you be upset … youll be out of a job.
Nope … I’ll be celebrating with everyone else!
I hate to break it to you, but that is your company that you work for and whoever does their payroll … not the IRS.
Refunds / balances due are strictly a function of how much you had withheld from your paychecks during the year.
The 2024 tax laws are almost identical to previous years.
Though, I can tell you that if your company uses ADP for payroll processing, ADP messed up a lot of people in 2024. Not sure if their withholding calculations were wrong internally or what, but I’m seeing it across the board with companies that use ADP.
Another common problem is how your withholding may be set, if both spouses work.
As much as we all dislike the IRS, your owing and your buddies owing are as a result of not enough withholding during the year.
My two cents … 30 year tax accountant.
Great post! My grandparents were born between 1907 and 1911. One of them lived to 2004 … and came to Texas in a covered wagon. I’ve contemplated many times how weird it must have been to live through all of the changes during those 95 years of life.
All of it is so difficult. Several years ago, I was against giving my son the dTAP booster. My husband said “everyone gives it to their kid.” I wish I had held firm and said no. Instead, I caved, and he immediately developed breathing asthma like issues. And, has had issues ever since. I could just kick myself over and over. But, I was just on the cusp of learning all I know now. I refused any more vaxxines for my kids, and we have to get the exemptions for them each year.
Guardasil, in particular, was a no for me, based on my personal experience with HPV, and knowing the sketchy safety profile.
There are over 400 strains of hpv. The vax supposedly protects against 4 strains. The risk / reward profile is not worth it.
Your body naturally clears hpv in most instances. I know this from personal experience.
Best bet is to avoid the dangerous vaccine.
Same. Own my own business, ironically tax preparation. I hope he abolishes the income tax.
And, I just wrote up a long email about large companies legally skirting paying FICA / Medicare on their employees.
We little people pay through the nose, but the big companies are using loopholes. So infuriating!
Praying!