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so if you find yourself in a position where you file your tax return and you owe a large amount of taxes to the irs and you cant pay it there are options right the irs does have pretty standard form streamline installment agreement requests for taxes owed okay so you know i see this very frequently with self-employed individuals all right because if youre an employee your employer is taking taxes out of your paycheck every week and so at the end of the year you either get a refund or you might have a little extra oh but its nothing too surprising when youre self-employed youre responsible for making estimated payments on behalf of yourself right and so a lot of taxpayers wont make any estimates they wont save for taxes so at the end of the year they complete their schedule c or they drop in you know a k1 from a 1065 or an 1120s and theyve got this massive tax bill and they cant pay it happens all the time if that does happen to you definitely go with an installment agreement r
