If you owe the IRS money, it can be challenging to figure out how to pay that bill. You may not have expected to owe the money, and you may not have it on hand.
The IRS explains it offers multiple ways for you to handle your tax debt.
Additional time option
You may be able to request up to 180 additional days to pay your tax balance. You will need to submit an application, which you can do online or over the telephone. This short-term payback is still considered an overdue balance.
If you need more time to pay back your tax debt, then you can set up installment payments. These plans allow you to make monthly payments of your balance due. Again, it is overdue status even though you are making payments. There are application fees for using monthly installment payback plans.
Offer in compromise
An offer in compromise allows you to reduce the amount you owe. You will need to meet certain requirements, and the IRS must come to an agreement with you. You also must apply for this option.
You may be able to delay payment of your tax debt if you have income restrictions and repayment would cause you hardships. Understand that this will not remove your debt. It also will not stop overdue status. But it can help get you more time to afford the debt while also ensuring you can still afford your basic needs.
Keep in mind that if you do not pay your tax due in full by the tax filing deadline, you could face additional fees and penalties. But you should always file on time to avoid even more fees associated with late filing.