Form 9465 or the Online Payment Agreement for an October Balance Due
An installment request is a resolution decision. Steve Perry, EA explains what Form 9465 and the IRS online tool do not evaluate for an October balance due.

An installment request is a resolution decision. Steve Perry, EA explains what Form 9465 and the IRS online tool do not evaluate for an October balance due.

An extension delayed your filing, not your payment. See how interest and failure to pay penalties have accrued since April 16 and what to do before the October 15 deadline arrives.

- The IRS imposes various penalties that can significantly increase a taxpayer’s debt, including failure to file (up to 25%), failure to pay (up to 25%), accuracy-related (20%), estimated tax, and trust fund recovery penalties (100% for payroll taxes). - Penalties can be reduced or removed through methods such as First-Time Penalty Abatement (FTA) for compliant taxpayers, Reasonable Cause Relief for uncontrollable life events, statutory exceptions, administrative waivers (e.g., natural disasters), and appeals. - Books, Taxes & More, led by Enrolled Agent Steve Perry, specializes in penalty abatement and can assist with analyzing penalties, choosing relief strategies, submitting IRS correspondence, and negotiating payment plans. - Engaging expert help early improves chances of success, saving time, money, and stress. - Taxpayers facing IRS penalties should promptly seek professional assistance to explore options for penalty reduction or removal, thereby protecting their finances and moving forward confidently.