IRS Payment Plan

Asked February 2, 2015, 8:17 AM EST

Due to having to cash out a retirement account last year, we have a huge tax bill this year. How does the IRS calculate the monthly amount one pays under their payment plan?

Osceola County Florida personal finance

1 Response

This information from the IRS explains their two payment options for outstanding tax bills: Installment Agreements and Offer in Compromise: http://www.irs.gov/taxtopics/tc202.html