The Internal Revenue Service allows taxpayers to file for a six month extension for any reason as long as they submit the proper form in time.  Just file form 4868 either electronically or on paper by the April deadline.

If you owe money to the IRS but can't afford to pay it at the moment, there's no need to panic, says Lisa Greene-Lewis, CPA and tax expert at TurboTax.

Contact the IRS to ask for an installment agreement when you file your taxes. If you qualify, an installment agreement will allow you to set up a monthly payment plan to pay your federal tax debt off over 6 years. If you're able to pay off your balance within 120 days, the installment plan won't cost you any additional fees.

If you file an extension but you choose not to pay what you owe by the tax deadline, the IRS will charge you a failure-to-pay penalty and interest on the taxes you owe them.