I CAN'T PAY THE WHOLE AMOUNT THAT I OWE RIGHT NOW - WHAT SHOULD I DO?

If you can't pay everything that you owe the IRS by the April 17 filing deadline, you must file your return to avoid late filing penalties. That amounts to 5%of the unpaid taxes for each month or part of a month that a tax return is late. An extension only gives you 6 months to file - not 6 additional months to pay. The IRS has programs available (installment agreements, offer-in-compromise) to help people who are short of funds.