Payment Plan for Federal Taxes
If I set up a payment plan to pay my federal taxes, does that include my quarterlies I have to pay or are they part of the payment plan?
If I set up a payment plan to pay my federal taxes, does that include my quarterlies I have to pay or are they part of the payment plan?
No. Estimated tax payments are for future tax years, whereas payment plans are for the inability to pay tax due for a prior tax year. Generally, taxpayers have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.
For more information on IRS payment plans and how to set one up with the IRS, please see Payment Plans Installment Agreements.
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