u/mlstigler

On 6/10 I filed an amendment for 2024 which resulted in an extra $4100 (I know there will be additional penalties and interest). The amendment is still processing and I plan to set up an installment agreement for about 12 months. When I was reviving my transcript I saw a small 1099 that I missed which will result in about $400 additional taxes.

I know that I will need to file a second amendment when the first finishes processing but my question is, what happens to my installment agreement? I know that any new balance will cause it to default but will I have the opportunity to modify my current agreement before that happens?

I know a cp523 will eventually be sent out if I don’t pay the balance, but will I have time to modify the agreement before this letter is generated?

On 6/10 I filed an amendment for 2024 which resulted in an extra $4100 (I know there will be additional penalties and interest). The amendment is still processing and I plan to set up an installment agreement for about 12 months. When I was reviving my transcript I saw a small 1099 that I missed which will result in about $400 additional taxes.

I know that I will need to file a second amendment when the first finishes processing but my question is, what happens to my installment agreement? I know that any new balance will cause it to default but will I have the opportunity to modify my current agreement before that happens?

I know a cp523 will eventually be sent out if I don’t pay the balance, but will I have time to modify the agreement before this letter is generated?

PLEASE HELP!

On 6/10 I filed an amendment for 2024 which resulted in an extra $4100 (I know there will be additional penalties and interest). The amendment is still processing and I plan to set up an installment agreement for about 12 months. When I was reviving my transcript I saw a small 1099 that I missed which will result in about $400 additional taxes.

I know that I will need to file a second amendment when the first finishes processing but my question is, what happens to my installment agreement? I know that any new balance will cause it to default but will I have the opportunity to modify my current agreement before that happens?

I know a cp523 will eventually be sent out if I don’t pay the balance, but will I have time to modify the agreement before this letter is generated?

After filing we owed $3720 including all penalties and I calculated the interest and paid that as well. Right now my transcript says the following and I’m confused whether or not we still owe a balance (the payment has been applied):

Account balance: 13.90
Accrued interest: 0.00
Accrued Penaty: -18.26
Account balance plus accruals: -4.36

So do we owe 13.90 or will there be a credit? I’m very confused