As we close out 2009 it means we're going to have to start thinking about our taxes whether we like it or not. Usually, this isn't a big deal since most people have taxes withheld from their paychecks automatically. But what happens if you find out that you owe more money than you can afford to pay? Owing money to the IRS is never fun, but in today's economy it can be an even bigger financial problem. So, what do you do if you can't afford to pay your taxes?
First of all, don't waste another day. If you owe taxes, accept that fact and find out how much money you need to come up with. Even if you don't have the money, you still need to file your return on time if you want to avoid further penalties. Unfortunately, you also still owe the balance come April 15th, but you do have some options available. Find out the best course of action to take when you can't afford to pay your taxes.