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What to do if you owe taxes and can’t afford to pay them

By Kelly Anne Smith

Nick Holeman, a senior financial planner at Betterment, says owing money on a tax bill is a sign that withholdings are inaccurate. He recommends adjusting them for future tax seasons.

“Having a lower refund is not in and of itself a bad thing, nor is it the full picture,” Holeman says. “Personally, I aim to come as close to breaking even as possible every year when I file my taxes.”

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This article originally published February 26th, 2019 on Bankrate