Are you putting off filing your tax return because you owe money but can’t pay? You shouldn’t. The IRS can help you if you’re having trouble paying all the taxes you owe at once. But YOU must take action. Here’s what you need to do:
First, before the tax deadline, either file your tax return or get an automatic extension (which usually gives you until mid-October to file). Remember, an extension is only for filing a tax return, not for paying taxes owed.
Next, pay what you can before the tax deadline. You’ll be charged interest and a failure-to-file penalty on whatever is left.
Then, check out the different payment options the IRS offers, such as an installment agreement or an offer-in-compromise. Go to IRS.gov/payments for more details.
