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IRS Tips to Help People Pay Their Taxes

8/17/2015

 
If you owe tax, the IRS offers safe and easy ways to pay.  Check out these payment tips:

  • Pay your tax bill.  If you get a bill, you should pay it as soon as you can.  You should always try to pay in full to avoid any additional charges.  See if you can use your credit card or to get a loan to pay in full.  If you ca't pay in full, you'll save if you pay as much as you can.  The more you can pay, the less interest and penalties you will owe for late payment.  The IRS offers several payments option on IRS.gov.

  • Use IRS Direct Pay.  The best way to pay your taxes is with IRS Direct Pay.  It's the safe, easy and free way to pay from your checking or savings account.  You can pay your tax in just five simple steps in one online session.  Just click on the "Payment" tab on IRS. gov.  You can now use Direct Pay with the IRS2Go moble app.

  • Get a short-term payment plan.  If you owe more tax than you can pay, you may qualify for more time, up to 120 days, to pay in full.  You do not have to pay a user fee to set up a short-term full payment agreement.  However, the IRS will charge interest and penalties until you pay in full.  It's easy to apply online at IRS.gov.  If you get a bill from the IRS, you may call the phone number listed on the bill.  If you can't have a bill, call (800) 829-1040 for help.

  • Apply for an installment agreement.  Most people who need more time to pay can apply for an Online Payment Agreement on IRS.gov.  A direct debit payment plan is the hassle-free way to pay.  The set-up fee is much less than other plans and you won't miss a payment.  If you can't apply online, or prefer to do so in writing, use Form 9465, Installment Agreement Request.  

  • Check out an offer in compromise.  An offer in compromise, or OIC, may let you settle your tax debt for less than the full amount you owe.  An OIC may be an option if you can't pay your tax in full.  It may also apply if full payment will cause a financial hardship.  Not everyone qualifies, so make sure you explore all other ways to pay your tax before you submit and OIC to the IRS.  Use the OIC Pre-Qualifier tool to see if you qualify.  It will also tell you what a reasonable offer might be.

    • Change your withholding or estimated tax.  If you are an employee, you can avoid a tax bill by having more taxes withheld from your pay.  To do this, file a new Form W-4, Employee's Withholding Allowance Certificate, with your employer.  The IRS Withholding Calculator tool on IRS.gov can help you fill out the form.  If you are self-employed you may need to make or change your estimated tax payments.  See Form 1040-ES, Estimated Tax for Individuals to learn more.

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  • Home
  • About
    • Book An Appointment
  • Accounting
    • Dashboard
    • Xero+Accountency
    • Xero Intro
    • AutoMagical Accounting
    • QuickBooks >
      • QuickBooks Updates
    • Store
  • Payroll
  • Taxes
    • Dashboard
    • Individuals
    • Businesses
    • Tax Stuff >
      • Individuals >
        • Income >
          • Debt Forgiveness
          • Foreign Income
          • Gambling Income
          • Unemployment
          • Other Income
        • Deductions & Credits >
          • Adoption
          • Charitable Contributions
          • Earned Income Tax Credit
          • Educational Expenses
          • Energy Tax Credits
          • Employee Business Expenses
          • Other Deductions and Credits
        • Affordable Care Act - Individuals
        • Children and Dependents
        • Death
        • Disabled Taxpayers
        • Educators
        • Health Care
        • Identify Theft
        • Marriage and Divorce
        • Military
        • Real Estate
        • Retirement Savings
        • Seniors
        • State Taxes
        • Record Keeping
        • Who Must File
        • Other Topics
      • Businesses >
        • Affordable Care Act - Businesses
        • Year-end Reporting Obligations >
          • 1099's
          • Health Insurance Premiums
          • Depreciation
          • Reimbursed Employee Business Expenses
          • Company Automobiles
        • Employment Tax Credits
        • Independent Contractors
        • Tax Credits and Deductions for Businesses
        • Other Business Topics
        • Required Business Posters
      • Amended Returns
      • IRS Notices and Problems
      • Tax Plan >
        • All About the Earned Income Tax Credit
        • 5 IRS Audit Red Flags
        • Retirement Plans for Sole Proprietors
        • Are You Claiming All of Your Tax-Deductable Business Expenses for 2015?
        • All About Past Due Tax Returns
        • Do You Need to File Form 1099s?
        • How to File an Appeal with the IRS
        • Why You Might Get a Letter from the IRS, and What to Do
        • How to File an Amended Tax Return
        • Should You Claim the Home Office Deduction?
        • How to Avoid -- And Deal with -- Identify Theft
        • Q & A: IRS Audits
        • Are You Using the Right Business Structure?
        • Starting Planning for 2015 Income Taxes Now: 5 Tips
        • What You Need to Know About Estimated Taxes
        • Contractor or Employee? How the Income Tax Obligations Differ
        • The New Form 1095-A: Reporting Health Insurance Coverage
        • Are Your Social Security Payments Taxable?
        • Do You Qualify for the Earned Income Tax Credit?
        • Are You Eligible for Health Insurance Tax Credits
        • Employee Retirement Plans - Tax Advantages and Other Benefits
        • 5 Business Tax Credits You May Be Missing
        • New Business in 2012
        • Is it a Bad Debt or a Simple Revenue Loss? Telling the Difference
        • Business Taxes Add Complexity: How Will This Affect You?
      • Tax Scams