When it comes to taxes and tax payments, the thought of not having enough money to cover your tax liability can be overwhelming and stressful.The IRS understands that taxpayers who owe money need choices on how they can make payments to the agency. Luckily for us, the IRS actually offers three easy ways to pay taxes. Taxpayers can pay online, by phone or with their mobile device using the IRS2Go app. Plus, you can explore these payment options anytime of year, which helps relieve some last minute pressure to come up with enough money to cover owed taxes.
The tax team at Cotton Mather CPA in the North Hills area of Pittsburgh can help you with complicated tax issues and tax payment questions. Contact us today at (412) 931-1617.
If you are a taxpayer that must make quarterly estimated tax payments throughout the year (this category includes sole proprietors, partners, and S corporation shareholders or anyone who expects to owe $1,000 or more when they file. Check out these four payment options:
- Pay with your bank account, at no charge from the IRS, using electronic funds withdrawal.
- Use IRS Direct Pay to pay their taxes, including estimated taxes. Direct Pay allows taxpayers to pay electronically directly from their checking or savings account for free. Taxpayers can choose to receive email notifications about their payments. The IRS remind taxpayers to watch out for email schemes. IRS Direct Pay sends emails only to users who requested the service.
- Pay by credit or debit card through a card processor for a fee. Taxpayers can make these payments online, by phone, or using their mobile device with the IRS2Go app.
- Make a cash payment at a participating 7-Eleven store. Taxpayers can do this at more than 7,000 locations nationwide. To pay with cash, visit IRS.gov/paywithcash and follow the instructions.
- Pay over time by applying for an online payment agreement. Once the IRS accepts an agreement, the taxpayers can make their payment in monthly installments.
Contact our tax accounting team for more information or help with filing your personal or business taxes.