Owing, Owing To The IRS

In last week's issue, Erika asked this question:

I owe over $700 this year to the IRS from an investment payout. Can I get information or a form on making payments.
And TaxMama explained about installment plans with IRS <Last Week's Letter Here>

This week, we get some clarification from Don at IRS's Tax Advocate's office:
Dear Mama,

Still Love You Mailings.

You probably knew this, but may not been able to say it ... so FYI if you don't know, there is a $25 minimum on installment plans.

Normally, a taxpayer gets 1 free "late or missed" payment before the installment plans is defaulted. But as you probably know, I can't promise what that computer might do....

If you can pay it all in 90 days..then no $43 installment plan fee.

[TaxMama: I didn't realize that IRS would waive the $43 processing fee if you could arrange to pay off the balance due in 90 days. But, it makes sense - it saves them a lot of paperwork and follow up. Eva]

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