When it’s time to pay your tax bill, you have a few quick and easy options to make an electronic payment.
Electronic Funds Withdrawal (EFW)- Taxpayers can chose to file their tax return electronically and pay directly from their personal bank account. You’ll need to e-file if you want to use this option, so it’s best to use tax preparation software or a professional.
Direct Pay – log on to the IRS website at IRS.gov/directpay to make a secure payment from your checking or savings account without being charged fees. This free tool allows you to schedule your payment up to 30 days ahead of time. Once you’ve submitted your payment, you’ll receive an instant confirmation, and you can receive email communication regarding payments made with Direct Pay, if you choose.
Credit/ Debit Card – Using your credit or debit card, you can pay online, by phone, or with your mobile device. Be aware that the debit and credit card processors charge a fee, and none of that money goes to the IRS or is assessed by the agency for processing payment. You can visit www.irs.gov/payments to see a list of authorized card processors and related phone numbers.
IRS2Go – The official mobile app for the IRS, IRS2Go is free and simple to use. You can conveniently make payments with Direct Pay through your bank account for free, or with your card for a fee through an approved processor. The mobile app can be downloaded through Google Play, The Apple App Store or the Amazon App Store.
Electronic Federal Tax Payment System – You can pay for free safely and conveniently by phone or online by calling 800-555-4477 or logging on to eftps.gov. Both businesses and taxpayers can use this method and choose to receive email notifications regarding payments.
Cash – If you want to pay using old-fashioned cash, you can use the PayNearMe option, however the IRS suggests planning ahead. Since it’s a four-step process, beginning well ahead of the deadline will help avoid penalties and fees for late payments. Using PayNearMe, you’re limited to $1,000 per day and a fee of $3.99 will be added to each payment. This option is provided in part with OfficialPayments.com/fed and specific 7-Eleven stores in 34 different states. You can get more information by visiting IRS.gov/paywithcash.
Same-Day Wire Transfer – You may be eligible to pay your taxes using a wire transfer from your financial institution. You should familiarize yourself with the availability, cost, and cut-off time for same-day transfers. You’ll need to complete a Same-Day Taxpayer Worksheet for each payment you wish to complete, if you’re paying for multiple forms or period.
All 2017 tax returns need to be filed by April 17th, 2018 unless an extension has been granted. Taxpayers can request a six-month extension using Free File, filing Form 4868, or by paying all or part of the estimated taxes due and marking the payment as part of an extension through Direct Pay, the Electronic Federal Tax Payment System (EFTPS) or with a credit or debit card. You won’t need to file separate extension forms, and you can expect a confirmation number for your records.
If you choose to pay your tax bill with check or money order, you should make it out to the “United States Treasury” and include Form 1040-V, payment voucher. This will help the payment get properly credited to your account. You should also include “2017 Form 1040, your name, address, phone number, and SS number somewhere on the front of the check.”