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Old 05-19-2007, 10:32 PM
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Join Date: Jan 2007
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I filed an extension & now I owe a lot of taxes that i cannot pay? What can I do?

Dear TaxGuru,

I filed an extension thinking I had paid enough taxes with the extension in mind. It turns out that my estimated income was grossly understated. Hence, I owe a lot of federal income taxes upon completion of my tax return.

But, I have no means of paying these taxes! Help! Can you please provide some advise as to what my options are. Thank you!



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