What you need to know when you can’t pay your taxes

When you file your taxes and can’t pay (or if you still owe taxes from a past return), you have several options.

Depending on your circumstances, the IRS offers:

  • Extensions for people who need more time to pay

  • Payment plans, called installment agreements, with different terms

  • Deferred payment and settlement, for people in financial hardship situations

A tax professional can help you evaluate which option will work best for you, and your tax pro can help work with the IRS to set up the agreement.