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Source: Tulsa World, Okla.mini storageSept. 11--While most taxpayers get a refund from the IRS when filing income tax returns, some don't. The IRS offers tips and several payment options for those who owe taxes.Tax bill payment: If you get a bill from the IRS pay it as soon as possible to save money. You can pay by check, money order, cashier's check or cash. If you can't pay it all, get a loan to pay it in full. The interest rate for a loan is usually less than the interest and penalties the IRS must charge by law on its own payment plans.Electronic funds transfer: It's easy to pay your tax bill by electronic funds transfer. Just visit IRS.gov and use the Electronic Federal Tax Payment System ( tulsaworld.com/IRSElecFedPaySys). You may also use EFTPS to pay your taxes by phone at 800-555-4477.Credit or debit card payments: You may pay with credit or debit cards. Even though the card company may charge an extra fee for a tax payment, the costs of using a credit or debit card may be less than the cost of an IRS payment plan. To pay by credit or debit card, contact one of the five payment processors listed at tulsaworld.com/IRSDebitOrCredit They each charge a "convenience fee" ranging from a $2.99 to $3.95 flat fee for debit cards or 1.88 percent to 2.35 percent for credit cards.More time to pay: You may qualify for a short-term agreement to pay if you can fully pay your taxes in 120 days or less. Request it through the Online Payment Agreement Application at tulsaworld.com/IRSOPA or call the IRS at the number listed on your last notice. If you can't find it call 800-829-1040 for help. There generally is no set-up fee for a short-term agreement.Installment Agreement: If you can't pay in full at one time and can't get a loan, you may want to apply for a monthly payment plan. If you owe $50,000 or less, you can apply using the IRS Online Payment Agreement Application. It's quick and easy. If approved, IRS will notify you immediately. You can arrange to make your payments by direct debit. This type of payment plan helps avoid missed payments and may help avoid a tax lien that would damage your credit.Also apply using IRS Form 9465, Installment Agreement Request (tulsaworld.com/Form9465) If you owe more than $50,000, you must also complete Form 433F, Collection Information Statement. For approved payment plans the fee is $105 for standard and payroll deduction agreements. The direct debit agreement fee is $52 or $43 if your income is below a certain level.Offer in Compromise: The IRS Offer-in-Compromise program allows you to settle your tax debt for less than the full amount you owe. An OIC may be an option if you can't fully pay your taxes through an installment agreement or other payment alternative. The IRS may accept an OIC if the amount offered represents the most IRS can expect to collect within a reasonable time. Use the OIC Pre-Qualifier tool (tulsaworld.com/AbilityToPay) to see if you may be eligible before you apply. The tool will also direct self storageou to other options if an OIC is not right for you.Some penalties may be waivedThe deadline for filing your 2012 income tax return, after you received an extension of six months to file, is coming in less than a month away -- Oct. 15. Chances are you are doing what many do: not filing or paying taxes and paying the slight penalties for six months off with bad behavior.Tax return filing extensions: An extension is asking the Internal Revenue Service for more time to file your tax return. If you received one, the deadline for filing your 2012 return was April 15. Filing Form 4868 extended the deadline six months -- to Oct. 15 -- so you won't be paying any failure-to-file penalty (until after Oct. 15).An extension of time to file is not an extension of time to pay. Tax payments for 2012 were still due April 15. Payments after that date are subject to penalties and interest. Some taxpayers are eligible for waivers of the late payment penalty for 2012, says the About.com website."The IRS announced it will waive late-payment penalties of 0.5 percent per month for taxpayers whose returns included any of the 31 forms that weren't released by the agency until February or March (when they were supposed to be released to the public Jan. 1, but weren't due to Congress changing the tax code). Such forms include Form 8863, relating to education tax credits; Form 5695, relating to the residential energy credit; and Form 4562, relating to depreciation."To be eligible for penalty relief, taxpayers would have to have: a tax return containing one of 31 forms finalized in February or March, filed an extension, filed their return by the extended due date and paid remaining tax by the extended due date. The IRS assesses a late payment penalty of 0.5 percent per month of the balance due plus interest, currently 3 percent annually, on any tax paid after the original deadline. Under this penalty relief, the IRS will waive the late payment penalty. Interest will not be waived.Late payment penalty: The late payment penalty is usually half of 1 percent of any tax (other than estimated tax) not paid by April 15. It is charged for each month or part of a month the tax is unpaid. The maximum penalty is 25 percent.The late payment penalty will not be charged if you show reasonable cause for not paying on time. Attach a statement of reason to your return. Don't attach the statement to Form 4868.You have reasonable cause for the period covered by this automatic extension if at least 90 percent of your actual 2012 tax liability is paid before the regular due date of your return through withholding, estimated tax payments or payments made with Form 4868.Submit Action Line questions by calling 918-699-8888, emailing phil.mulkins@TulsaWorld.com or by mailing them to Tulsa World Action Line, PO Box 1770, Tulsa OK 74102-1770.Copyright: ___ (c)2013 Tulsa World (Tulsa, Okla.) Visit Tulsa World (Tulsa, Okla.) at .tulsaworld.com Distributed by MCT Information Services迷你倉