Follow the if five F's you owe taxes.

• Position: YOU LIFE

For the second year in a row, tax day falls later than normal. Income tax filing will be due on April 17 but, for consumers who will owe more than they can pay in full, that day will be here before they know it. The Association of Independent Consumer Credit Counseling Agencies, Fairfax, Va., encourages consumers to face facts and prepare now to meet their tax obligations.

"Ignoring the situation if you owe more in taxes than you can afford to pay will only compound the situation," cautions David Jones, president of AICCCA. "Penalties and fees will add up quickly if you do not make arrangements to pay."

If you owe taxes, follow the Five Fs:

* Figure out how much you will owe on April 17. Putting it off will not change the amount due and knowing will help you plan for how you will make the payment. Plan to make some kind of payment on April 17 or you will owe steep penalties and fees.

* Fine-tune your budget and determine how much you can save by cutting back on areas such as entertainment and food. Have a yard sale or take advantage of online auction sites for larger items, like boats and ATVs. Target the monies earned for your tax bill. You may not be able to...