<prompt> Human: I was self-employed last year and I had an adjusted gross Income of 32,909.00 with taxable income of 22,509.00 which makes me owe 7,841.00 in taxes. I filed as single and I live by myself. I was expecting to only have to pay around 4,000 but my rookie self was not aware and ended up being a higher amount. I applied for the installment plan which I agree to pay 3,000 before April 17 and then possible pay 1,000 each month. Right now I dont know if this was the smartest option to do. I have the money to completely pay all of the taxes at once but then I will end up having my personal account drained. I was thinking on getting a personal loan to pay for this but I still not sure what are the penalties on taxes. Can someone advise me how should I approach to pay this amount of taxes. Edit: I recently got employed so I just have to pay estimated taxes for the month of January this year.Also do I need to amend my taxes if I submitted a form 9465 but now I want to pay everything in full?  <response>: Pay all of your taxes all at once with the cash you have on April 17th. The money you have in cash is your emergency fund. This qualifies. 