I recently filed an amended tax return form 1040x and New York return Form IT-201-X for the 2012 tax year. I didn't pay the full amounts due per the amended returns. What can I do?

ANSWER

The BIDaWIZ Team's Answer:

You definitely should have paid the taxes due for your Form 1040X as well as on your New York State IT-201-X forms. It is now highly probably that the IRS and the New York State revenue department will seek payment from you as well as any necessary interest and penalties due. If you are unable to pay the full amounts, you can certainly request to setup an installment plan with the IRS via Form 9465. You can also request an agreement with New York state.