Installment Payments

0 170 Views Mr. X owed $8,000 on his 2010 return. He has opted to make installment payments with the IRS for $300 a month. Total for the year of 2011 he has made $3000 in installment payments. Is he able to write-off this payment? Expert Level Question Comments Please login or register to comment on a question.

1 Answer(s)

0 No, he is also unable to write off the interest (personal interest specifically excluded) or penalties on Federal tax debt (also specifically excluded) Comments

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