Options For Paying Your Taxes

If you do not pay your taxes when due, you may have to pay a failure-to-pay penalty. To avoid this penalty, the IRS suggests several ways to pay your taxes. You can pay by check, money order or credit card or use the direct debit method.

CHECK OR MONEY ORDER
If you choose to pay by check or money order, make it out to "United States Treasury." Please show your correct name, address, Social Security number, daytime telephone number and the tax year and form number on the front of your check or money order.

CREDIT CARD
You can charge your taxes on your American Express, MasterCard, Visa or Discover Card. To pay by credit card, call one of the service providers listed below and follow the recorded instructions. You can also pay by credit card over the Internet using the service provider's Web site. These service providers charge a convenience fee based on the amount you are paying. Do not add the convenience fee to your tax payment.

Official Payments Corporation
Phone 1-800-2PAY-TAX (1-800-272-9829)
Web Site http://www.officialpayments.com

PhoneCharge, Inc.
Phone 1-888-ALL-TAXX (1-888-255-8299)
Web Site http://www.1888ALLTAXX.com

DIRECT DEBIT
You can file electronically and pay in a single step by authorizing a direct debit (automatic withdrawal) from your checking or savings account. This option is available through tax software packages, tax professionals and TeleFile. You will need to have your account number, your financial institution's routing transit number and account type (checking or savings). You can schedule the payment for any future date up to and including the April 15 return due date.

For more information about filing and paying your taxes, refer to Form 1040 or Publication 17, "Your Federal Income Tax." You may request a copy of the form or publication by calling 1-800-TAX-FORM (1-800-829-3676) or you may download them from the IRS Web site at www.irs.gov . You may also call the IRS’s toll-free customer assistance line at 1-800-829-1040, available from 7:00 a.m. to 10:00 p.m. weekdays and from 9:00 a.m. to 5:00 p.m. Saturdays through April 13.


This daily Tax Tip has been provided by the Internal Revenue Service.


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 8Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 16Kristen Rampe will give tips on how to bring confidence into the room and build a valuable network.