<prompt> Human: I was 1099 last year and didnt take out near enough or have enough deductibles. Just looking for a way to get this paid off quick. I have a baby coming and would like to eradicate all debt ASAP...  <response>: File a complete and correct return on time.The biggest tip is to pay in full on the 18th. No interest and no penalties.The next tip is to pay as much as possible on the 18th, to reduce the assessments of penalties and interest.If you dont pay in full on time, the IRS interest rate is currently 4 per year, compounded daily on the unpaid tax and penalties. The interest rate can be increased or decreased on a quarterly basis. The Failure To Pay penalty is 0.5 of the unpaid tax per month or part of a month. If you have a valid monthly Installment Agreement, the FTP rate is reduced to 0.25 of the unpaid tax per month or part of a month. Pro Tip: Fix. The. Problem. If you are still self employed, get current and stay current on your Estimated Tax payments. 