Remember it is better to file or efile a tax return on time (and pay as much as you can) than face expensive penalties for filling a tax return late. However, if you cannot pay all the taxes you owe with your filed tax return, you may qualify to set up an installment payment plan with the IRS.lso, you must have filed all of your currently due tax returns before submitting an offer in compromise. Furthermore, you must fill out and attach Form 433-F, Collection Information Statement, if you are requesting an OIC based on a claim of doubt as to collectability or effective tax administration.