Hello guys, I don't know where to put this topic as it pertains to the IRS. SO I thought I just post it in loans since that kind of the same thing. I filed all my taxes on time this year for year 2013. I know that I owe them a little over $1,000. My question is: what happens next? Am I going to receive a letter from them on how to pay for this? Or should I do contact them first? I'm really confused as this is my first time owing them money. Any help is appreciated!
When it comes back you owing them Money, they will send you a letter. They give you the option of either paying in full or making payments. You will have to call the number on the letter to get set up in the payment plan if that's the route you take. My mom had to do this. The IRS worked with her in any way they could.
The important thing is that you filed. They should send you a letter acknowledging that they received your information and confirming the amount (in case you miscalculated something). I would think you should have received it by now, but I am not sure how long it takes. If you are still waiting a month from now, I would contact them. They are happy to work with you as long as you appear to be trying to make payments. There are interest charges that may be applied so you are better off starting the process sooner rather than later. They have even been known to waive interest when a small debt is being paid down, but I wouldn't count on it.
The downside of waiting to pay is the interest they impose. However, they do give a few months for people to pay. So you can make arrangements asap or wait for them to contact you and you will probably owe $1025 and up while making payments.
That's what I was thinking too. I should have the letter by know but I dont see it in the mail. I guess I'll just have to call them and ask. Also, do you guys know if there is a sort of "online statement" I could look at while I'm making payments? Just so I have a copy of receipts and of course so I could monitor whatever is happening in my account. I appreciate all your help guys!
You could call them but you better believe that if you owe them money they'll be sending you a letter. There are a variety of programs that can help you pay like getting on a payment plan or doing an offer in compromise where you settle for less than what you owe. Good luck with this, I'm sure it will be fine.
