Quick tax question

[Arkitech]

I'm going to owe the goverment a large sum of money this year due to some real estate transactions. Do I have to send the entire sum over at once or can I break it up over a period of months? Or can I even delay the payment for a certain period of time?


Thanks

 

[Yossarian]

you will have to work out an arrangement with the IRS

 

[Arkitech]

Originally posted by: PipBoy
you will have to work out an arrangement with the IRS

OK so I'm assuming it varies from case to case

 

[Murpheeee]

When I was filing mine at H&R Block the guy said I could delay Fed payment until July interest free

Mine wasn't much so I declined, so I don't know the details

 

[bighurtx82]

Posted by Murpheeee
When I was filing mine at H&R Block the guy said I could delay Fed payment until July interest free

If you took the option, where you going to pay the IRS or H&R Block in July? Wondering if H&R Block pays the amount before the deadline and if you miss paying H&R Block by July then they charge a finance fee.

 

[jemcam]

Originally posted by: PipBoy
you will have to work out an arrangement with the IRS

You can work out a pay arrangement with them, but they'll charge interest on the unpaid balance, I think it's .5 % per month.