I know I'm past the due date of paying my taxes. I'm sure there will be a penalty. But how long do I actually have before I'm forced to pay?

[alexwoods1776]

I'm in a tough financial situation, so I'm unable to pay taxes until August. Will that be okay? And where do I pay the penalty fee?

[DoninGA]

Taxes owed can be paid at any time.  Once the IRS received the payment they will send you a bill in the mail for the penalties and interest.

[xmasbaby0]

When you file your tax return, pay as much as you can at that time.   The deadline to pay was back in April so your payment will be late.   The IRS will bill you for any late filing penalties or interest owed after they receive your tax return.   TurboTax will not calculate those amounts.  The IRS will determine how much is owed based on your total amount of tax due and when they receive a payment from you.

When you prepare your return your tax due will be shown on line 37 of your Form 1040.

 If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website. 

https://www.irs.gov/payments

https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212

https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-mone... 

It is possible to set up a payment plan with the IRS:

To apply for a payment plan with the IRS

Apply Online for a Payment Plan

[Shuuu]

People go a decade or longer, no worries. If you're in the income bracket where CPAs are not necessary, they won't likely be hunting you down. Avoidance is a bad idea, I suggest you contact them at IRS.gov, they have pretty easy payment plans. Best wishes.

[Opus 17]

It takes years before the IRS will move to seize your accounts or garnish your wages.  But interest and penalties are 1%-5% per month, so it adds up fast.  And the penalty for filing late is much higher than the penalty for paying late, so file as soon as you can (if you haven't filed already).  Pay as much as you can now, then pay more when you can.  The IRS will bill you for the penalties and interest.

You can request a payment plan, but the application fee is non-refundable, so it's not worth it unless it will take you more than 4 months to pay your taxes and your taxes owed will be more than about $1000.  Getting on a payment plan saves you the penalty but not the interest.