Question

Which of the following payment options is the least costly choice available to a taxpayer who cannot pay the amount owed on the tax return by April 15, 2019 but who expects to pay it by August 1, 2019

Answer 1

Ans option B File the return and apply for an extension of upto 120 days online
or by calling the IRS
There is an option available for the taxpayer if the taxpayer can pay the tax due
within 120 days than in that case he could request for short additional time to pay
taxes due using the online payment application
Note just for more understanding
If the taxpayer is unable to pay all the tax due by April 15 than he could opt for
Installment agreement request in which you can pay monthly installments
through this agreement. You need to file form no 9465 which is Installment
agreement request form. You can file this form with tae tax return you are filing
by 15th April and you can also file it after filing your tax returns. To be eligible
individual must own not more than $50000 in combined individual income tax,
interest and penalties and for businesses it is not more than $25000. But remember
that if you are able to pay within 120 days than no need to fill this form