What if there is no money to pay taxes

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This year, taxes should be paid before April 18. If you already understand that you cannot do it on time, you must report it to the Internal Revenue Service (IRS).

In order not to turn you into a debtor, you will be offered a scheme for paying taxes in installments (Installation agreement). Before you decide how much you can pay, think twice. If you later want to change the payment plan, you will have to pay $50.

When concluding an installment agreement, a fee of $43 to $120 is charged. Call 800-829-1040 for more information about paying taxes in installments. One condition for the installment agreement: you must not be in the process of filing for bankruptcy.

In addition, if you understand that you will not have time to file the declaration itself by mid-April, it’s worth submitting by April 18 Form 4868 — a request for an extension of the deadline for filing a tax return.

After you submit this form, the submission deadline will be extended by six months. But this does not mean that the deadline for paying taxes will be postponed along with this. Federal tax on profits received by individuals in 2015 must be paid by April 18, inclusive.

Read all the answers to questions on how to file a declaration yourself in our article. “How to file your own tax return in the USA”

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