WASHINGTON, DC — If you applied for an extension to file your taxes, the clock is ticking — you have until the end of the day to submit your 2024 tax return.
Even with a partial government shutdown, the IRS is still expecting taxpayers to file on time. But if you can’t afford to pay your full tax bill right now, you still have options to stay in good standing and avoid hefty penalties.
Payment Plan Options
According to the IRS, taxpayers can apply for short-term or long-term payment plans online.
- Short-term payment plan: You’ll need to pay your balance in 180 days or less. There’s no setup fee, though interest will continue to accrue until your balance is paid in full.
- Long-term payment plan: You can make monthly payments, but this option includes a setup fee that varies depending on how you make payments — online, direct debit, or by mail.
While both plans include interest and some penalties, they can help reduce or avoid additional “failure-to-pay” fees.
More details about payment plans and how to apply are available on the IRS website: IRS Payment Plans and Installment Agreements.
IRS Delays Expected During Shutdown
The government shutdown isn’t impacting today’s filing deadline, but it is slowing down customer service. Nearly half of IRS employees are furloughed, which means reaching a live representative by phone may be difficult.
However, the IRS says taxpayers who apply for payment plans online will get an immediate response to their request.
Tax professional Tom O’Saben with the National Association of Tax Professionals recommends filing electronically before midnight and setting up secure online access through the IRS website.
“Have online accounts and get an identity protection PIN,” O’Saben said. “It’s not only important to get that return filed — but to get it filed electronically by midnight wherever you are.”
Watch the full story above.
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