Money Fix: Can't pay your tax bill?
You did your taxes. You owe, and worse, you can't pay the bill. What now? Before you panic, or fail to file, consider some options, experts advise. Credit: iStock
You did your taxes. You owe, and worse, you can't pay the bill. What now? Can you borrow from family or friends? If not, there are options.
The penalty for not paying in full is 0.5 percent of the unpaid balance per month, but the monthly penalty for not filing a tax return is 5 percent. Interest also accrues on the unpaid tax and the penalties assessed.
Just don't ignore the problem.
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