Hey reddit! I live in California and it looks like I owe the IRS over $30K this year. I'm thinking about paying it back with an IRS long-term payment plan, but I've read that it's likely cheaper to take out a personal loan though I don't fully understand why.... From the IRS website it looks like I'll have to pay 4% interest + 0.5% penalty. That's 4.5% total with an IRS payment plan versus a personal loan where the lowest rate I managed to find was 5.49% + origination fees (~$500). Am I missing something here?
Submitted February 24, 2018 at 11:24PM by perfectpuckbunny http://ift.tt/2CiKHOm
