tax-468440_1280.jpg

The IRS offers a variety of payment options where taxpayers can pay immediately or arrange to pay in installments. Those who receive a bill from the IRS should not ignore it. A delay may cost more in the end. As more time passes, the more interest and penalties accumulate.

Here are some ways to make payments using IRS electronic payment options:

  • Direct Pay. Pay tax bills directly from a checking or savings account free with IRS Direct Pay. Taxpayers receive instant confirmation once they’ve made a payment. With Direct Pay, taxpayers can schedule payments up to 30 days in advance. Change or cancel a payment two business days before the scheduled payment date.
  • Credit or Debit Cards. Taxpayers can also pay their taxes by debit or credit card online, by phone or with a mobile device. A payment processor will process payments.  The IRS does not charge a fee but convenience fees apply and vary by processor.

Those wishing to use a mobile devise can access the IRS2Go app to pay with either Direct Pay or debit or credit card. IRS2Go is the official mobile app of the IRS. Download IRS2Go from Google Play, the Apple App Store or the Amazon App Store.

  • Installment Agreement. Taxpayers, who are unable to pay their tax debt immediately, may be able to make monthly payments. Before applying for any payment agreement, taxpayers must file all required tax returns. Apply for an installment agreement with the Online Payment Agreement tool.

Who's eligible to apply for a monthly installment agreement online?

  • Individuals who owe $50,000 or less in combined tax, penalties and interest and have filed all required returns
  • Businesses that owe $25,000 or less in combined tax, penalties and interest for the current year or last year's liabilities and have filed all required returns

Those who owe taxes are reminded to pay as much as they can as soon as possible to minimize interest and penalties. Visit IRS.gov/payments for all payment options.

Read These Next...

BUSINESS Smart

BUSINESS Smart

Pay Attention Please

July 23, 2017

Comment ()


This blog post does not have any comments. Be the first!

SUBSCRIBE

Sign up to get the latest trucking tips and tricks!

ADD ME

Ask a question

ASK A QUESTION

Post a question to our forum and a Pro will answer as well as our community members!

GO TO THE BUSINESS Smart FORUM

Keep Reading BUSINESS Smart Articles

BUSINESS Smart

BUSINESS Smart

Pay Attention Please

July 23, 2017

BUSINESS Smart

BUSINESS Smart

Greasing The Wheels

July 21, 2017

About Sean Bryant

Sean is a graduate of the University of Iowa where he received a Bachelor's of Arts degree in economics. After beginning his career in banking, he found his love for marketing. Before arriving at ATBS in 2014 he spent time working for two different technology startups as well as his own freelance marketing company.

View Full Bio and All Posts by Sean Bryant