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foreign you owe the IRS money and youre not sure what to do lets first establish when you actually owe the IRS money and when youre past due when the tax year ends technically we now owe tax for our previous years income that amount is due on the filing deadline because most s-corporations and LLCs and Partnerships dont owe taxes of themselves were really referring to the deadline to file your personal tax return which is April 15th most years I know that I owe them money when the year ends and I can do my taxes but Im late and now have a debt to them come April 15th if I dont have them paid by then Im late if you are able to pay that tax off before the end of the year we recommend paying as much of it off as you can as fast as you can and get it done I wouldnt do anything fancy with resolving the tax debt other than paying it off before the year ends you will get IRS letters you are going to owe interest in penalties but you dont have to go through giving them information o