This year, taxpayers who are required to pay IRS can opt for installment payments, although they should be aware that this process incurs interest charges.
“Interest is added to each installment amount, calculated from the end of the voluntary payment period to the month of payment,” explained DECO PROTeste in an article published last September.
The interest rate this year stands at 8.309%, as set by law.
Who is eligible for paying IRS in installments?
“Taxpayers who do not have other debts with the tax authority and have submitted their IRS tax return within the deadline, that is, by June 30. This includes those who use the automatic IRS filing,” clarifies the consumer protection organization.
It is important to note that, “to be able to pay IRS in installments without needing to provide a guarantee, the IRS amount owed must not exceed five thousand euros.”
Furthermore, the “request must be made by September 15 (15 days after the payment deadline).”
