How to handle IRS collection?

[bxb209]

According to the IRS I owe $990 for 2015. What's worse is apparently this year I have no refund and owe them $2.

I have till the end of the month to respond. I guess I'll double check their math and attempt to get a payment plan.

Any tips for dealing with the IRS? Buying time? $990 is a lot to me on my current income.

[justbroke]

The IRS is generally a "cool" creditor. However, time is money to them and the longer you take to pay or enter a payment arrangement, the most "un-cool" they become. They will generally allow that to be paid over 36-72 months, plus interest, with one of their payment arrangement plans (such as the "online payment agreement" or OPA as they call it).

You can double-check their math, but you would need to challenge that they did it incorrectly. Did you file a return or was this an additional assessment after a filed return? Either way you need to deal with this. If you do enter a payment arrangement make sure you actually pay on time (or have it deducted from payroll... although I don't recommend the payroll deduction). Your payment may be less than $20/month on a 60-month installment (in my quick -- in my head -- calculation).