Whats the best option for paying off a large fedeal tax debt?

I have both a federal and state tax dept amounting to about 20k what's the best option for paying it off. I might be able to pay cash for the state portion.

Max Hoopla2012-04-14T10:32:22Z

Favorite Answer

If you can pay approximately 2% of the federal tax per month, send in Form 9465 that you can download from http://www.irs.gov/pub/irs-pdf/f9465.pdf and IRS will send you a payment reminder notice every month or debit your bank account automatically.

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Cathi K2012-04-14T16:34:07Z

You can do an installment agreement.

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