You Owe Taxes, But Can’t Pay the Bill


MoneyTips

Surprise! The 2017 Tax Cuts and Jobs Act may cause many changes in your tax situation. Instead of enjoying a tax refund this year, you may discover that you owe Uncle Sam. Even worse, you do not have the money to pay these surprise taxes. What can you do?

The good news is that you still have options but ignoring the tax bill is NOT one of them. That will only make your situation worse in the long run as you rack up fees and penalties. Make sure that you file your taxes on time and choose one of the following:

  • Loans/Credit – Depending on the size of the tax bill, it may make sense to take out a loan (if you can qualify) or pay the tax bill via credit card. You will have to estimate when you can expect to pay the bill, and do a cost-benefit analysis on whether the interest you will pay on the <a title="Paying Taxes With A Credit Card | MoneyTips" hr…

Student Grants Help – Avoid Student loans through grant money.