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#1
04-12-2005, 08:36 PM
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 Re: Tax repayment help "needhelp" <csharpnewbie1234[at]cs.com> wrote: - quote - > I just got my 2004 taxes done. We owe $4,000, however we
1} the terms your proposing are reasonable, assuming no> plan on sending in $800 as partial payment and then try to > get a payment plan setup. > My question is with the $3,200 left, we would like to pay > $100-$150 month. I know it will only come to $1,800 after a > year and we would still owe. > 1) Would the IRS take something better than nothing, as this > is really worrying me > 2) I expect to get federal taxes back next year (long story > but employer did not take out enough taxes). Will they just > take the refund and put it toward the balance due next year > ? other liabilities are owed. 2} Good to see that you have corrected the root cause problem, The future year refunds will offset to the liability owed, bring you closer to full payment of the liability. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-12-2005, 08:16 PM
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| Re: Tax repayment help needhelp wrote: - quote - > I just got my 2004 taxes done. We owe $4,000, however we
What you suggest is certainly possible. Fill out form 9465> plan on sending in $800 as partial payment and then try to > get a payment plan setup. > My question is with the $3,200 left, we would like to pay > $100-$150 month. I know it will only come to $1,800 after a > year and we would still owe. > 1) Would the IRS take something better than nothing, as this > is really worrying me > 2) I expect to get federal taxes back next year (long story > but employer did not take out enough taxes). Will they just > take the refund and put it toward the balance due next year (Plea for Mercy), specifiy 125$ per month payable on 15th of each month, send them the 800$ along with it of course. Remember they add a processing fee of 43$ AND charge interest, but even if not completely paid off by next year, you can bet your sweet bippy that THEIRS will notice your next year's refund and chearfully appropriate what's needed to satify your liability. ChEAr$$$, Harlan Lunsford, EA n LA 11 Apr 2005 4 days and counting...... down.....\ << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-11-2005, 05:35 PM
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| Tax repayment help I just got my 2004 taxes done. We owe $4,000, however we plan on sending in $800 as partial payment and then try to get a payment plan setup. My question is with the $3,200 left, we would like to pay $100-$150 month. I know it will only come to $1,800 after a year and we would still owe. 1) Would the IRS take something better than nothing, as this is really worrying me 2) I expect to get federal taxes back next year (long story but employer did not take out enough taxes). Will they just take the refund and put it toward the balance due next year ? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| repayment, tax |
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