Owing the IRS?

Question

I owe the IRS around $10,000 and mailed in my taxes like a good girl. I have been expecting to hear from them concerning setting up a payment plan but so far haven't. What happens if they don't contact me and I don't pursue it on my end?

Answer 1

The IRS has no urgent need to contact you.  You are the one with the urgent need to minimize penalties and interest.

Call or visit the IRS office and request an installment agreement.

Answer 2

They will contact you.

Answer 3

Oh, they will pursue it, have no doubts about that.  You should be making payments now, even if you haven't heard from them.  Every month you don't, you accrue even more interest and penalties than you would if you were paying already.

Answer 4

While you are waiting the interest and penalties are growing.  Your payment was due before apr. 15. so far you owe 7 weeks.  Get on the phone and make some arrangements quickly.