tax1111 Posted April 18, 2023 Report Posted April 18, 2023 I have not done this before. Can TP use form 9465 to pay extension payments? Thanks Quote
Lion EA Posted April 18, 2023 Report Posted April 18, 2023 I am guessing, but an extension payment is made by 18 April 2023, so an installment agreement that extends beyond that date would NOT be an extension payment. Pay the most you can today. When filing the return, with final amounts, set up an installment agreement. You also can make "return payments" between now and then to keep paying down your expected balance due. 1 Quote
BrewOne Posted April 18, 2023 Report Posted April 18, 2023 After today, the IRS will not electronically accept extension payments--you would choose "balance due, 2022." Same with estimated payments after January 15 (or 16, 17, whatever), you can't make them (online). 2 Quote
JohnH Posted April 19, 2023 Report Posted April 19, 2023 An extension can easily be structured as a de facto installment payment plan for 6 months with no setup fee. The simplest way I know to do this is to file an accurate extension (with or without payment-makes no difference), and then set up a personal EFTPS account and make payments through that account, applying them to the year under extension. You have a nice, neat, accessible record of your payments to date when you file the return. Of course, interest and FTP penalty on any unpaid balance will run during the extension period, but that would happen anyhow even if a formal installment agreement were possible 4 Quote
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