IRS Tax Payment Options

Did you know that there are a number of ways to pay your tax bill online or by phone?

No more checks to write. No more envelopes and stamps. No more trips to an IRS office to make a payment.

The best option is IRS Direct Pay, which allows you to make a payment online directly from your savings or checking account.

Whether you’re making a payment with your return, have a tax bill from the IRS, or need to make quarterly estimated tax payments, Direct Pay is a great way to pay your taxes. No fees. No sign-ups. No hassles.

You can reach Direct Pay right from the “Pay Your Tax Bill” link on IRS.gov.

A second way to make a payment (if you e-file your tax return) is with an electronic funds withdrawal. You can use either a checking or savings account. Most tax preparation software and tax professionals allow you to do this.

A third way is through the Electronic Federal Tax Payment System, or EFTPS. It’s primarily designed for business taxpayers, but can be used by individuals, too. EFTPS is free, available 24/7, and allows you to schedule a payment in advance. You do have to sign up for EFTPS before you can make a payment.

Lastly, you can choose to make a payment using a credit or debit card either online, by phone, or when e-filing. There is a fee charged by the service provider, not the IRS. It’s a flat fee for debit cards or a percentage fee for credit cards based on your payment amount.

Of course, you can always choose to mail your payment directly to the IRS. If you do, make sure you write out your check to the United States Treasury, not to the IRS. Be sure to include Form 1040-V along with your check.

For more information on any of these payment options, go to IRS.gov and click “Pay Your Tax Bill” on the home page.

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About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
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