Every year, many Americans file their tax returns and discover that they owe more income taxes than they can afford immediately. In addition, many taxpayers owe taxes in return and have no idea how they should pay their taxes. Taxpayers who cannot pay their taxes can submit Form 9465 to establish a monthly payment plan if they meet certain conditions. Any subject who owes no more than $10,000 has automatically approved his payment plan application with the following provisions: Form 9465 is quite short and requires only your personal data, the name and addresses of your bank and employer, the amount of tax you owe, an estimate of the monthly payment you can afford , the day of each month you prefer, and the amount of each payment you have with the form. Option 5: Request an online payment contract (takeover request): you can access Form 9465 from the IRS website or by phone at 1-800-829-1040. Any taxpayer who owes more than $50,000 must also submit Form 433-F: Collection Information Statement with Form 9465, something that cannot be done online. You also have the right to apply online if you owe less than 50,000 USD. If you owe more than that, you must submit Form 9465 with Form 433-Faufdem on paper. Keep in mind that until your debts are fully settled, you will be charged an interest rate. In addition to interest, you will also be subject to late penalties. Taxpayers with unpaid tax bills don`t have to worry about how to pay their taxes. The procedure for requesting tempe-times agreements is relatively fast and painless, although penalties and interest can add up over time. Individuals who are unable to pay their federal tax bill and who do not enter into agreements with the IRS may be subject to the IRS collection process and more penalties and interest than if they had made advance payments to make staggered payments.

For more information, see IRS Topic No. 202: Tax Payment Options. Payments can be made between the first and 28th of each month. If the agreement stipulates that the subject must make the payment up to the 15th of each month and the payment is not made, the agreement is immediately considered to be late. Therefore, those who pay by cheque or payment order are recommended to send an email in their payments at least seven to ten business days before the due date, to ensure a timely receipt. Fortunately, the Internal Revenue Service (IRS) has a program that allows taxpayers to pay taxes in monthly increments rather than in a large single package.