Oklahoma Tax Commission Issues FAQ on Individual Income Tax Payment Plan Options

The Oklahoma Tax Commission Sept. 1 issued a frequently asked question (FAQ) on payment plan options for individual income tax purposes. The FAQ includes information that: 1) taxpayers must pay what they can when filing returns; 2) taxpayers will receive three separate bills for the remaining tax, penalty and interest; 3) taxpayers can also pay through OkTAP using the “Request a Payment Plan” feature; and 4) there will be a one-time delinquent penalty of 5 percent and interest accruing at 1.25 percent per month on any tax not paid by the original due date. [Okla. Tax Comm’n, Income Tax - ...