What should you do if you can't pay your tax bill?

Here are some options to help you pay the IRS what is owed

Worried man stands in kitchen holding tax papers
Whatever you do, make sure you still file, since "the fees for not filing a return are much higher than the fees for not paying your tax bill in full"
(Image credit: Natalia Gdovskaia / Getty Images)

As much as everyone may hope for a generous refund come tax season, there is also the possibility that you could end up owing money. And if you were not expecting that outcome from filing your taxes, or the bill is simply more than your bank account can handle, you may find yourself in the anxiety-provoking situation of having a tax bill that you aren't able to cover.

So what should you do if you owe the IRS and can't pay? For starters, make sure to follow through with filing, as "the fees for not filing a return are much higher than the fees for not paying your tax bill in full," said Yahoo Finance. From there, you have some options to start getting that tax bill paid down and help create some breathing room for yourself.

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