All Americans who have any type of income must pay taxes. This is the general rule for United States citizens who send the Tax Return to the IRS, although it is true that there may be exceptions. However, some Americans who have to pay taxes are unable to do so in one lump sum due to various financial problems.
For that reason, the IRS offers the possibility not only to pay by credit or debit card. In addition to that, it is also possible to make a payment plan. And although most Americans can access this payment plan, we must apply for it well in advance.
It is possible that we may not get the acceptance of the payment plan, so we must keep in mind that we will not be able to use it just because we ask for it. The IRS takes into account several factors, but what we must keep in mind is that we can request it online.
By requesting this plan online we will speed up the process of getting it. This will allow us to pay to the IRS all the taxes during a determined period of time. This way we will not have to pay everything at once.
How to apply online for the IRS tax payment plan?
The first thing to keep in mind is that there are two types of plans. Each of these types has its specifications and requirements. Depending on the tax situation of each American, one type of payment plan or the other will be available.
The IRS offers online one of these two plans (official information from the Internal Revenue Service):
- Long-term payment plan (installment agreement): You owe $50,000 or less in combined tax, penalties and interest, and filed all required returns.
- Short-term payment plan: You owe less than $100,000 in combined tax, penalties and interest.
In order to order one of these plans online you will need an ID.me account. This account is free of charge and will allow us to do this type of procedure. Once we have the account we must add all the information regarding our taxes.
When the IRS receives the request we will get an answer in a short period of time. Depending on the payment plan we have available we will be able to start paying in the next month or later.