IRS offers alternative payment options

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One method to pay your tax besides with cash is to pay it by plastic. IRS now has contracts with three credit card payment processor companies: World Pay, Official Payments and with Link2Gov. Through these companies anyone can pay their taxes with American Express, Visa, MasterCard, Discover or with any debit card.

Another newly introduced option is paying your tax bills through installment plans. This is particularly useful especially if your tax is too big to be paid with plastic. Installment plans involve monthly payments. One could pay his/her tax bill in up to three years time if he/she previously paid taxes on time.

The last alternative option to payment is to make a deal with the IRS. For those who can’t pay their tax bill IRS accepts a compromise. This is done by filling Form 656, Offer in Compromise, and Form 433-A, Collection Information Statement.

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