Tax Bill Too High? Here’s How to Pay It Off Smartly | |
If you're filing your 2024 federal tax return and owe more than you can afford right now, you're not alone — and you have options. The IRS offers several payment plans to help taxpayers stay in good standing while paying off their balance over time. Key Deadlines to Remember: Tax filing deadline: April 15, 2025 Late filing penalty: 5% per month Interest: 0.5% per month, or 7% annually Filing your return on time — even if you can’t pay the full amount — helps you avoid the steepest penalties. And paying as much as you up front will reduce interest accumulation. Payment Plan Options: Short-Term Plan: For balances under $100,000 Up to 180 days to pay in full Long-Term Installment Plan: For balances under $50,000 Monthly payments for up to 10 years Direct Debit option available to avoid missed payments Additional Relief Options: Offer in Compromise: Settle for less than you owe (if eligible) Temporary Delay of Collection: If you're unable to pay, the IRS may pause enforcement How to Apply: Use the IRS Online Payment Agreement tool — no paperwork, no in-person visits. Immediate approval is possible if you qualify. Need help choosing the right option? SAI CPA Services can guide you through the process, ensure compliance, and help you minimize penalties. Contact Us : Facebook: AjayKCPA Instagram: sai_cpa_services Twitter: SaiCPA LinkedIn: Sai CPA Services WhatsApp: Sai CPA Channel Phone: (908) 380-6876 (908) 888-8900 1 Auer Ct, East Brunswick, NJ 08816 #SaiCPAService #TaxHelp #IRSPaymentPlans #CPANearMe #SAICPAServices #TaxSeason2025 #TaxRelief #NJAccountant ![]() | |
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Target State: New Jersey Target City : East Brunswick Last Update : Apr 08, 2025 12:40 PM Number of Views: 105 | Item Owner : Saicpa Contact Email: Contact Phone: +19083806876 |
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