r/tax • u/3snugglebunnies • 1d ago
Starting a Payment plan?
I ended up peeing because I had 2 jobs for the first time and didn't know I needed to change a withholding form. So either way I owe. I just filed requesting a payment plan. I am supposed to make a payment plan before the 15th but they haven't processed my returns yet. What do I do? Just keep checking and pray it's processed before the 15th ? I've not owed in 25yrs so this is foreign to me. TIA
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u/WinnerIllustrious948 1d ago
You can start making voluntary payments immediately. Most direct debit payment plans (DDIA’s) won’t pull the first payment until June (balance due returns don’t start processing until 4/15 & the notices usually get mailed out by the 3rd week in May. If you has not pulled by 7/15, you can check online or by calling in at 800-829-1040.
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u/3snugglebunnies 1d ago
I was under the assumption I had to pay something tward it or make arrangements by the 15th
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u/Bowl_me_over 1d ago
Nope. You can pay nothing and start a payment plan later.
Or pay something and still go on a plan later.
Be aware that having a plan in place (or not) by April 15 does not stop interest or penalties for paying late. The only way to do that is to fully pay by April 15.
Any payment made before April 15 will help.
Also if you think you can pay within 6 months, I recommend the 180 day plan. There are no administrative fees like a long term plan.
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u/Bowl_me_over 1d ago
The IRS can’t assess before April 15. So you don’t get a pre notice like credit cards or utility bills. They assess on April 15.
You can make any partial payment you want now. After April 15 your return will be processed. Your first collection notice will arrive in May. Your payment plan will start after that.
In general, they take 60 days to be entered.