What to Do if You Can't Pay Your Taxes? (Page 4 of 11)
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Strategy #1: Seek an Extension of Time to Pay
IRS Form 1127 is one of the agency’s best-kept secrets. It is the Application for Extension of Time to Pay Income Taxes. For years, the IRS denied this form even existed! Yet, it could be just what you’re looking for. (Click here to download the form from the IRS site.)
Just to be clear, this is NOT a filing extension. As we just talked about, you must still file your return on time. Form 1127 is a request for a payment extension, generally six months.
Next: Getting Your Request Approved
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