Why would you have to pay it all immediately? The IRS is very helpful with payment plans (this is obviously better for them than demanding full payment and the

Why would you have to pay it all immediately? The IRS is very helpful with payment plans (this is obviously better for them than demanding full payment and then watching you wipe away the debt in bankruptcy). Here are some details [1] - fees to move your owed taxes to a long-term payment plan (essentially a loan) range from $31 to $225. And if they aren't, personal loans are possible. Or even bankruptcy! The common thread between these options is that they're better than being $50k in non-dischargeable debt. [1] https://www.irs.gov/payments/payment-plans-installment-agreements https://www.irs.gov/payments/payment-plans-installment-agree...