During a multi-year period of unemployment, I withdrew funds from my IRA several times to make mortgage payments. Taxes on last year's withdrawals are due - and I will not be able to pay them on April 15th.
The process for negotiating payment terms is not clear to me. On one web site I read the recommendation to file, pay nothing, and wait for a bill - at that point fill out a form requesting a payment plan. Another website said I can defer payment for 120 (?) days, but I assume that means the entire amount will be due - I will not be in a position to make that several thousand dollar payment.
Is there a clear directive somewhere?
Thanks in advance to you all - a very helpful group.