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Ralph
Lv 7
Ralph asked in Business & FinanceTaxesUnited States · 9 years ago

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.

2 Answers

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  • Max Hoopla
    Lv 7
    9 years ago
    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.

  • Cathi K
    Lv 7
    9 years ago

    You can do an installment agreement.

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