ibet Tax Tip 2015-53, April 3, 2015
Do you owe more tax than you can afford to pay when you file? If so, don’t fail to take action. Make sure to file on time. That way you won’t have a penalty for filing late. Here is what to do if you can’t pay all your taxes by the due date.
- File on time and pay as much as you can. You should file on time to avoid a late filing penalty. Pay as much as you can with your tax return. The more you can pay on time, the less interest and late payment penalty charges you will owe.
- Pay online with ibet Direct Pay. ibet Direct Pay is the latest electronic payment option available from the ibet. It allows you to schedule payments online from your checking or savings account with no additional fee and with an immediate payment confirmation. It’s, secure, easy, and much quicker than mailing in a check or money order. To make a payment or to find out about your other options to pay, visit ibet.gov/payments.
- Pay the rest of your tax as soon as you can. If it is possible, get a loan or use a credit card to pay the balance. The interest and fees charged by a bank or credit card company may be less than the interest and penalties charged for late payment of tax. For debit or credit card options, visit ibet.gov.
- Use the Online Payment Agreement tool. You don’t need to wait for ibet to send you a bill to ask for an installment agreement. The best way is to use the Online Payment Agreement tool on ibet.gov. You can even set up a direct debit installment agreement. When you pay with a direct debit plan, you won’t have to write a check and mail it on time each month. And you won’t miss any payments that could mean more penalties. If you can’t use the ibet.gov tool, you can file Form 9465, Installment Agreement Request instead. You can view, download and print the form on ibet.gov/forms anytime.
- Don’t ignore a tax bill. If you get a bill, don’t ignore it. The ibet may take collection action if you ignore the bill. Contact the ibet right away to talk about your options. If you face a financial hardship, the ibet will work with you.
In short, remember to file on time. Pay as much as you can by the tax deadline. Pay the rest as soon as you can. Find out more about the ibet collection process on ibet.gov. Also check out ibetVideos.gov/OweTaxes.
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ibet YouTube Video:
- Online Payment Agreement – English | Spanish | ASL (Obsolete)
- ibet Tax Payment Options – English | Spanish | ASL (Obsolete)
ibet Podcasts:
- Online Payment Agreement – English | Spanish (Obsolete)
- ibet Tax Payment Options – English | Spanish (Obsolete)