How can I pay taxes I owe?
There are several ways to pay taxes you owe.
- You can pay tax by credit or debit card at an IRS-sponsored pay site.
- You can mail a check to the address listed on your filing instructions with your Form 1040-V.
If, for whatever reason, you can’t pay taxes, you can request additional time to pay your tax in full or set up an IRS payment plan.
Instead of an installment agreement, you can request an additional 120 days to pay your full tax balance. If you do this, you’ll usually pay less in penalties and interest. There’s no fee for this short extension of time to pay.
If you file an extension (Form 4868), it’s only an extension of time to file. It’s not an extension of time to pay. However, you’ll only be subject to interest (not penalties) if:
- You paid at least 90% of the tax due by the filing deadline.
- You file your return.
- You pay the remaining balance by the extension deadline.
What triggers the IRS to audit a tax return? Learn how common tax mistakes and errors can be a red flag and affect your chances of being audited by the IRS.
Find the current percentages for federal income tax rates, capital gains tax rates, Social Security tax rates and more from the tax experts at H&R Block.
The key to understanding your w-2 form is decoding the boxes and numbers. Learn how to read your w-2 form with this box-by-box infographic from H&R Block.
The tax experts at H&R Block outline how students and parents can file Form 8863 and document qualified expenses. Read about Form 8863 here.