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What happens when you can't pay your taxes?

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This story appears in the February 2007 issue of Entrepreneur. Subscribe »

It could happen to anyone. Sales boom one year but drop the next, or a personal emergency drains your cash. Suddenly, it's tax time and you can't pay what you owe.

Many people simply don't file taxes when they can't pay, says Alvin Brown, a career IRS attorney who now directs the nonprofit IRS watchdog group the IRS Forum. Nonfilers are subject to fines, and the IRS can seek to collect the debt forever. Instead, use one of these options to settle your debt.

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