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June 6, 2019
Question

Is there a 4 installment way to pay my taxes without paying interest? I thought i saw that when I was doing the form before.

  • June 6, 2019
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Employee
June 6, 2019

The IRS does exclusively offer a 4-payment Installment plan. What you might have seen is the option to pre-pay your Taxes with Four (4) Quarterly payments send in with Form 1040-ES.

Form 1040ES are quarterly installment payments that are sent during the tax year and applied against your Tax Liability determined when you file your return. Estimated tax payments are due four times in a tax year for calendar year taxpayers (which is most individuals), the due dates are April 15, June 15, September 15 of the current year and January 15 of the following year.This is basically a way to anticipate a tax liability and applying a payment, therefore reducing, or eliminating, any said liability that is reported when filing your Tax Return.