<prompt> Human: HI PF I need some help..bad..so today I got a the best wake up call of my life..my Tax guy told me I owe the government 3000 in taxes that my primary job did not take out they took out the state tax though. I talked with my Boss and he pretty much said Wth do you mean they did not take out Fed Tax?!? and we are going to talk more on monday but until then I need to start figuring out my optionsa little about me:im 20 No kids no wife no house Live with my parentsI work for a SchoolIm so worried right now im shaking I cant make 3 grand in 3 months plus pay off all my other stuff.. please help!!  <response>: IRS employee here:Please file your 2014 federal return on time, even if you cant pay in full on 415.I recommend you make the largest payment you can afford on or before 4152015. Assuming you e-file your 2014 federal return, your first balance due notice will be issued in the third week of May. This notice will show any remaining unpaid tax, plus an assessment of Failure To Pay FTP penalty, plus interest. If you can full pay by the notice due date, you are done.If you need a little more time to pay, you can request a short term extension, called a Full Payment agreement. With this plan, you can request up to 120 days to get it paid. During the 120 days, the balance due continues to accrue FTP and interest, but there is no requirement to make a fixed monthly payment, and there is no fee to request the agreement. You could make 1 or 100 payments, as long as its paid in full by day 120.If you need more than the 120 days, you can request a formal monthly payment plan, called an Installment Agreement IA. There is a one-time set up fee of 120, and a required minimum monthly payment the balance due on the first notice 72. With a 3,000 federal balance due, your minimum payment will be 42.00 per month. Request the largest monthly payment you know you can afford in a bad month, and when a good month rolls around, pay more than your minimum payment.If you know when you file you want the IA, you would include Form 9465 with your electronic or paper return. You can also request a Direct Debit IA through your checking account on the 9465.After you receive your first notice, you can request either payment plan at irs.gov Online Payment Agreement You can also make the request over the phone by calling 1-800-829-0922 M - F 7am - 7pm. When you speak with a representative, they will verify your identity, research your account, provide the payment options, and input the resolution you request. After you request either agreement type, whether online or over the phone, you will receive a confirmation letter with all terms and conditions within 2 to 3 weeks. The Service sends monthly reminder notices when you request an IA.The FTP rate is generally 12 percent per month or part of a month, and is calculated on the unpaid tax. If a Taxpayer files timely and some other conditions, the FTP rate can be dropped to 14 for the lifetime of the agreement. Interest is currently 3 per year, compounded daily, and can be adjusted quarterly. Interest is charged on the unpaid tax and penalties.Paying a federal balance isnt like a mortgage or car payment: every dollar pays the tax liability first, then the penalties, then the interest. Moving forward for 2015: look at your paystubs. Every. Single. One. Make sure your withholding is adjusted correctly on Form W-4. Run your facts and figures through the Withholding Calculator at irs.gov.Thank you for reading. 