Question

I have a question about filing taxes and our installment agreement. We have an existing IRS installment agreement. We can only make a partial payment for what we owe for 2017. How should we pay tax owed this year when we file taxes?

Answer

If you owe taxes and make a partial payment, the IRS will charge interest on any unpaid balance. This applies to a balance not postmarked by April 16, 2018.

You can arrange another installment agreement to cover the balance for this year. If you do, contact the IRS to have the filing agreements consolidated.

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