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Owe Taxes But Can't Pay? - YouTube video text script

Are you putting off filing your tax return because you owe money but can't pay?

You shouldn't.

The I-R-S 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 of time to file your tax return.

Remember, the deadline is usually in mid-April for most taxpayers, but there are some different deadlines for

for taxpayers living abroad and people affected by disasters.

You can visit I-R-S-Dot-Gov-Slash-Free obÌåÓý to submit your extension online for free.

This usually gives you until mid-October to file your return and will help you avoid the failure-to-file penalty.

Just remember, this extension to file is not an extension to pay taxes you owe.

Next¡­ you should pay what you can before the tax deadline.

That's because you'll be charged interest and a Failure-to-pay penalty on whatever is left.

So you want the amount you owe to be as small as possible. Then¡­check out the different payment options we offer¡­ such as an installment agreement or an offer in compromise. Go to I-R-S-Dot-Gov-Slash-Payments for more details.