"The IRS knows if they let you drag it out longer, they're just going to get more interest and penalties," says Patricia L. Cosentino, a certified public accountant and attorney in Oak Lawn, Ill.
If you owe more than $25,000, you may still be able to get an installment agreement, but you'll have to disclose personal financial information to the IRS
Then, it will decide how much you can afford to pay each month, Cosentino
When choosing between the installment agreement and a credit card, look first at the interest rates you're being offered.
With an installment agreement, taxpayers typically won't pay more than 7 percent or 8 percent of the balance in interest and fees, Cosentino