Comments on: What to do When You Owe Taxes

By: TurboTaxLisa

TurboTaxLisa — Tue, 20 Mar 2012 16:38:53 +0000

Hi Eric,
You can file electronically whether you owe or receive a refund. TurboTax will guide you on how to send what you owe.
Thank you,
Lisa Greene-Lewis

By: Eric Schroeder

Eric Schroeder — Tue, 20 Mar 2012 15:10:34 +0000

I have always received a refund via Turbo-Tax, but this year I owe the IRS. Can I complete the transaction electronically through Turbo-Tax (essentially the reverse of a refund)? Or do I have to print it out and send in a check?

By: Linda Haggard

Linda Haggard — Wed, 06 Apr 2011 00:05:37 +0000

This may help Evelyn as well as others. I find that I owe more than expected so here is a tip for others. If you do have a well-established credit card they periodically send you interest free “checks” you can deposit into your bank account and write a check for your taxes once the credit card “Check” clears your bank. Around this time of year checks are around 0% for 12 mos or 1.99% for about 18 mos. BUT there is a 4-5% transaction fee for the entire amount borrowed. It takes awhile for these checks to clear so if you need it faster call your credit card company to get them to electronically deposit them into your checking account. Same rules apply or so. A bank “interest only” loan against one’s home gives time to pay off the principal and the interest is tax deductable. I’m in no way a tax advisor so get professional advice before you try any suggestion. All I really know for sure is I HAVE TO PAY UNCLE SAM INSTEAD OF VACATIONING this year!!!!

By: Steve Johnson

Steve Johnson — Tue, 05 Apr 2011 20:58:03 +0000

Very Easy to use and quick. Try it you’ll like it!. Thanks TurboTax.

By: Evelyn Arnold

Evelyn Arnold — Mon, 04 Apr 2011 15:02:21 +0000

Can I put what I owe the IRS on my Master Card?

By: tina haynes

tina haynes — Mon, 04 Apr 2011 01:06:38 +0000

We need to set up a payment plan for the taxes we owe.

Thanks Tina Haynes