If you owe money to the IRS, Internal Revenue System, you may be contemplating on how you are going to pay it back. While some only owe a small amount from the current year they are filing for, others may have gotten behind on filing and are now looking at paying back thousands of dollars in which they don’t have. If this is something you are dealing with, below are tips provided by the IRS that might help you in the event you owe money to the IRS.
- Request a loan- In the event you received a bill from the IRS claiming you filed your taxes late, they are going to expect that you pay your invoice in a timely manner. The IRS recommends that you take out a loan to cover this expense as opposed to making installment payments simply because they will probably add on interest to these payments.
If you received a bill from the IRS and you believe there is a mistake, you can contact them directly to see if you can get it resolved. If it appears that issue cannot be resolved, contact one of our reliable tax attorneys working all across the state of Wyoming who can provide you with some useful information regarding this.
- Request additional time to pay- Although the IRS is pretty stringent on the timeframes they allot to pay what you owe, given your particular circumstances, you might find that they will grant you a little more time to get your tax obligation fulfilled.
- You can make credit card payments- Getting your bill paid is top priority as the IRS will impose tax penalties and interest on the amount you owe in the event they don’t receive payment. They can even go as far as garnishing your wages if they want. So, to ensure this doesn’t happen, it is important you make every attempt to satisfy your debt unless of course you have a discrepancy. As mentioned, if you feel something isn’t right with your bill and the IRS insists you owe them money, it may be in your best interest to allow one of the recommended Wyoming tax attorneys found right here on USAttorneys.com to step in and assist.
The IRS allows you to make a credit card payment using one of the following companies:
- Link2Gov at 888-PAY-1040, or www.pay1040.com.
- RBS WorldPay, Inc. at 888-9PAY-TAX, or www.payUSAtax.com.
- Official Payments Corporation at 888-UPAY-TAX, or www.officialpayments.com/fed.
- You can use the electronic funds transfer to pay your financial obligation- You have the option of satisfying your debt by transferring the money by check, money order, cashier’s check, or cash from your bank. You can access this system by calling 800-555-4477.
- Installment agreement- if you are unable to pay your entire tax debt in full, you can request an installment agreement where you pay off your debt in increments by the month until you owe no more money.
There are many option that may apply to you in the event you owe money to the IRS and our dedicated tax lawyers servicing those in the state of Wyoming can help you become more informed on what they are.