The irs offers additional time (up to 180 days) to pay in full. Also you will owe the failure to pay (ftp) penalties.
Paying off your credit card debt in full is almost always the optimal route when looking at the issue from a credit score and financial perspective. The irs offers payment plans if you can’t afford the entire amount you owe upfront, in which case the penalty rate drops in half to 0.25%.
Itโs Not A Formal Payment Option, So.
2024 irs interest rates overview (effective april 1, 2024) individuals:
Large Corporate Underpayments Will Carry An Interest Rate Of 10 Percent.
See the revenue ruling for details.
Images References :
If The Taxpayer Is A C.
See the types of irs payment plans and how to set one up.