Austin is not able to pay the entire balance due by the due date of the return (without extensions). what are his options?

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Business

Carmelo Peck

29 July, 13:08

Austin is not able to pay the entire balance due by the due date of the return (without extensions). what are his options?

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Mirabel · Answer 1

Austin can get a loan with or without collateral for the amount due. He can also arrange payments with the IRS if he can demonstrate that he qualifies. Austin can also negotiate for some or all of the balance to be written off if an extreme hardship can be demonstrated. Austin can also just wait until he has sufficient funds but will continue to accrue penalties and interest on the amount due.