The IRS has responded to pressures from the Taxpayer Advocates to help those who may have trouble paying their taxes this season. Full details can be found on their site.

One of the things that many people don’t know is that you can make payments by credit card. I don’t recommend this necessarily, since you’ll face an extra fee of about 2.5%. But failure to file penalties are 5% per month and failure to pay penalties can be as high as 10% for payroll tax deposits.

The IRS is also improving how they deal with people when it comes to missed installment payments, collection actions and levy releases.

Categories: Tax News and Tips
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