Thread: Money I owe the IRS $4,000
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Old 02-16-2020, 12:28 PM   #103
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Join Date: Mar 2004
Location: Kansas City
Another tip.

If you work and get W-2's, withhold more than you normally do, if you are able to. Yes, it doesn't accumulate interest at all, but it's another safe avenue to pay/lower your tax bill once the new year comes around.

If it's 1099's, then well, not much you can do about that one. But you can try to lower it by putting some of the money into Self-employed SEP, SIMPLE, and qualified plans, which would be an deduction of your income.
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