5. Henry is in arrears in tax payments and owes the IRS $30,000 in back taxes for personal taxes for the years 2016 and 2017. Henry is cash strapped and wants to defer tax payments for as long as possible. What advice would you give Henry? The amount Henry owes is too small for IRS to be concerned with, it will be years before they catch up The amount Henry owes is too large to ignore, he must pay it all immediately or he will go to jail He can make a small monthly payment plan with the IRS, with immediate payment to reduce the balance to just below $25,000. Henry is cash strapped and wants to defer tax payments for as long as possible. What advice would you give Henry? The amount Henry owes is too small for IRS to be concerned with, it will be years before they catch up The amount Henry owes is too large to ignore, he must pay it all immediately or he will go to jail He can make a small monthly payment plan with the IRS, with immediate payment to reduce the balance to just below $25,000. He can make a small monthly payment plan with the IRS and his assets are safe as long as he does so