Steps to take if you owe the IRS in 2019

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NICK:
DURING TAX SEASON THERE ARE MANY
RULES AND REGULATIONS YOU
MUST FOLLOW.
22NEWS REPORTER HECTOR MOLINA
EXPLAINS WHAT YOU SHOULD DO, IF
AFTER
FILING TAXES, YOU OWE MONEY TO
THE IRS.
DURING TAX SEASON MANY PEOPLE
EXPECT TO RECEIVE
A REFUND, BUT THERE MAY BE
CERTAIN CIRCUMSTANCES IN WHICH
YOU MAY OWE MONEY TO
THE IRS.
IF YOU DON'T PAY YOUR TAX IN
FULL WHEN YOU FILE YOUR TAX
RETURN, YOU'LL
RECEIVE A BILL FOR THE AMOUNT
YOU OWE.
IF YOU CAN'T PAY THAT AMOUNT IN
FULL, YOU CAN ARRANGE A PAYMENT
PLAN WITH
THE IRS.
A PAYMENT PLAN IS AN AGREEMENT
WITH THE IRS TO PAY THE TAXES
YOU OWE WITHIN AN
EXTENDED TIMEFRAME.
RAY MAAGERO OF LIBERTY TAX TOLD
22NEWS MORE PEOPLE MAY BE OWING
MONEY
TO THE IRS THIS YEAR DUE TO THE
NEW TAX LAWS.
THERE IS A LIMIT OF STATE AND
LOCAL TAXES OF
$10,000 DOLLARS. WHERE AS IN THE
PRIOR YEAR YOU MAY BE ABLE TO
DEDUCT THAT. IF YOUR DEDUCTIONS
GO DOWN TAXES WILL GO UP.
YOU MAY GET CHARGED WITH FEES
DEPENDING ON THE PAYMENT PLAN
YOU
CHOOSE.
YOU WILL NOT BE CHARGED ANY FEES
IF YOU CHOOSE A SHORT-TERM
PAYMENT
PLAN THAT PROMISES YOU PAY WHAT
YOU OWE WITHIN 120 DAYS OR LESS.
IF YOU CHOOSE A LONG-TERM
PAYMENT PLAN YOU WILL MAY BE
CHARGED EITHER $31
IF YOU APPLY FOR YOUR PLAN
ONLINE OR $107 IF YOU APPLY BY
PHONE OR IN-PERSON.
IF YOU DO OWE MONEY TOWARD THE
IRS, THE
DEADLINE IS APRIL 15.
IN ENFIELD HM 22NEWS.
NEW SINCE SIX

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Steps to take if you owe the IRS in 2019

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