People who owe the Internal Revenue Service money for federal taxes can set up an installment plan to make payments over time to pay the tax bill. An installment plan will cost you more money because the IRS will charge you interest and penalties on the taxes that are not paid in full before the due date.
Things You'll Need
- Tax bill
- Competed tax return
- Bank account numbers
Set up an installment agreement with the Internal Revenue Service by completing the online payment agreement. This can be found at IRS.gov.
Be prepared to enter personal information from your tax bill or completed tax return to complete the online payment agreement application.
Have your financial information, such as checking or savings account numbers, available for setting up an automatic withdrawal to make your installment tax payments.
Write down any information such as phone numbers or addresses that the system gives so you can contact the proper department, if needed, later.
Follow through with your agreement with the Internal Revenue Service until the taxes you owe are paid in full.