Tax Day is May 17 — What to do if you can’t pay your tax bill

The deadline for filing taxes is May 17 and if you’re like many people, you’ve been procrastinating. Or perhaps you’ve gathered all your documents, filled out the correct forms and now there’s a number staring at you with enough zeros at the end to make you do a double take.

While some of us are lucky enough to get a refund, many Americans are faced with a tax bill that they just can’t pay and that’s a big reason we put off doing our taxes. But ignoring the fact that you owe money to the IRS is a bad idea. NBC senior business correspondent Stephanie Ruhle lays out exactly what you should do when you owe a tax bill you can’t pay — and gives advice on how to avoid getting into this predicament again next year.

“One of the main reasons why people procrastinate is because they don’t have the money,” said Ruhle in a video for TODAY. “Well here’s the thing, waiting, shoving it aside, putting it in a shoe box doesn’t solve it. And if you don’t address this by…