October 28, 2020

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Help! How do I pay deferred taxes at once? | Business

Help! How do I pay deferred taxes at once? | Business

I applied for a tax deferral in the spring and received a letter from the IRS last week saying that I now have to pay for the deferred funds. I knew this was coming, but I was shocked when I read that I had to pay the deferred payments plus the taxes for the month of June in one slip until July 29. It’s a big amount and my sales haven’t risen so much that I now have that money. I feel powerless.