Installment Agreement
If you cannot afford to pay your taxes in full, the IRS will often agree to consider your circumstances and allow you to set up an installment agreement whereby you pay off your taxes over time - on a workable time schedule and with a payment you can afford.
Know Your Legal Rights and Options
You have the right to negotiate with the IRS to secure a payment plan or tax installment agreement that you can live with. Once the IRS agrees to a modified payment plan, pressure from IRS collection action will be alleviated and, as long as you follow the terms of your installment agreement, the IRS may take further action by filing notice of a Federal Tax Lien and/or IRS wage garnishment or bank levy.
If you can't live up to the terms of your installment agreement with the IRS, it is important to contact the IRS immediately to discuss the matter and avoid more serious tax enforcement actions.