April 15 is just around the corner and even if you’ve completed your tax return, if you owe the government money, you may be waiting for the last minute to file.  But what if you owe taxes but don’t have the money?  There are several things you can do:

• First, unless you’ve been granted a filing extension, be sure to file your return with or without payment enclosed.
• If you file without the payment due, the IRS will bill you.  There will be penalties, but if you believe you will be able to make payments relatively soon, the costs will not exceed the interest you would pay taking out a loan elsewhere to pay the IRS.
• Just like most other organizations, the government would rather have you pay over time than not pay at all.  That is why installment plans are available.  To request an installment payment plan, you must submit IRS Form 9465.  The form also is available in Spanish.  Installment payments can be made by check or direct debit from your bank account.
• If you realistically can’t even manage installment payments, the IRS does offer a solution called Offer in Compromise.  This is available only to those in the most extreme circumstances and requires that you submit to the IRS a complete personal financial statement and a $150 application fee, along with IRS Form 656.  Offer in Compromise is evaluated on an individual case basis, and allows you to make either a lump sum payment or a series of fixed payments.  If you are accepted for Offer in Compromise, the terms dictate that you make future tax payments in full and on time for the next five years.

Oh, if you're thinking about using a credit card to pay your taxes, don't.  Baltimore Sun columnist
Dan Thanh Dang explains why.

If you have questions about your return and payment options, contact the IRS, or a tax professional such as a tax attorney or CPA.