Reporting Federal Taxes Owed on Petition

[ApresMoi]

I doubt we will get this Petition cleaned up before April 15, which means I will owe about a grand to the federal government before we file. I will need to make installment arrangements with the IRs. Can this be reported as an expense on Schedule J? The total divided by 12 since I will have to pay it down over time? Thank you.

[ConfusedinOC]

The lawyer I met with had contact the IRS and State Tax Board to determine what the payment would be over a 60 month plan. According to the IRS the interest rate is 4% and the penalty is 6% (1/2% per month over a year is 6%). Therefore the expense is the principal amortized over 60 months at 10% interest. I did the same for state taxes.

I do have a question regarding property taxes on home. The county I live in charrges 18% anually on unpaid property taxes. Would I be able to amortize this over 60 months or will my mortgage lender create an escrow account and have me pay the taxes within a year?

[mtbc]

I think there was a mention in another thread that it could only be on Schedule J if they actually have a tax lien. I don't think I've seen any clear guidance on it though.