Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Will the IRS allow payments over time? - Last year I lost my job and my house. My accountant just informed me I owe about $2000.00 in Fed and $200.00 in State. I just turned 65 and am collecting SS and a small retirement income. I'm considering filing for bankruptcy and in addition to wondering about making payments I'm also curious if bankruptcy will help with my tax liability and if timing is a factor. Job hunting has not proved successful at my age but I'll keep trying. Appreciate any advice. Thanks -