The IRS constantly issues advice and reminders on its website and social media accounts to help taxpayers, and it has posted facts to help taxpayers know what payment options they have. How can people pay their federal taxes?
Even though May 17 was the deadline to file and pay federal income taxes for most people, some taxpayers may have not paid their taxes yet. The IRS seeks to help taxpayers with any doubts they may be having and has clarified what the options for people to pay their federal taxes are.
Here are some tips for taxpayers that the agency has posted on its website, handling some of the most common after-tax-day issues.
While paying taxes is not optional, people do have options when it comes to how they pay taxes and the IRS offers a variety of ways to pay them.
Some taxpayers, like sole proprietors, partners, and S corporation shareholders who expect to owe $1,000 or more when they file, must make quarterly estimated tax payments throughout the year.
Individuals who participate in the gig economy might also have to make estimated payments.
Here are five ways in which people can pay their taxes:
• Pay when they e-file using their bank account, at no charge, using electronic funds withdrawal.
• Use IRS Direct Pay which allows taxpayers to pay electronically directly from their checking or savings account for free. They can choose to receive email notifications about their payments when they pay this way. Taxpayers should watch out for email schemes. IRS Direct Pay sends emails only to users who request the service.
• Pay using a payment processor by credit card, debit card, or digital wallet options. Taxpayers can make these payments online, by phone, or through the IRS2Go app.
• Make a cash payment at more than 60,000 participating retail locations nationwide. To pay with cash, visit IRS.gov 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 payments in monthly installments.