I have a question. In 2008, I did affiliate marketing the entire year and although I didn't earn much ($6,xxx at the most) - I've come to find out I should owe around $800 in taxes. Only thing is that I recently got a offline job that is consuming much of my time up. I also have bills to pay so saving up $800 for these taxes would be a bit hard to do in less then a month and a half. Is there any way the IRS will allow the taxes being taken out of my payroll check (up to an accumulated $800) and place that against the $800 I'd owe them? Or is there a way I can request an extension on how long I have to pay and if I do, how would I go about doing this?
NO. Borrow the money on a credit card if you have to. The rates will be cheaper that what the IRS charges. Whatever you do file the return on time. Even if you can not pay.