Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Thankfully, if you do owe federal taxes, the IRS provides a variety of ways in which you can make your payments. These are applicable for both business and personal.
The IRS website (irs.gov) takes many payments. You have the option of using your bank account or you can pay by debit or credit card. They take full payments as well as partial payments, including those going towards a payment plan. Luckily, no IRS account is needed to pay. You will need to know the tax year and tax form to apply the payment to, as well as the primary taxpayer’s social security number OR the business Employer Identification Number (EIN).
If you pay by card, there is a fee, however no part of the card service fee goes to IRS. Card processing fees are tax deductible for business taxes. Your card statement will list your payment as “United States Treasury Tax Payment” and your fee as “Tax Payment Convenience Fee” or something similar.
If you choose to, we can set up your tax return to reflect a direct withdrawal from your bank account once filed. To pay this way, we need your:
- Bank Account Number
- Routing Number
- Account Type (Checking or Savings)
You will be able to find all of this information for your checking account (see illustration to the right). For a savings account, you may need to contact your bank.
If you pay digitally, you do not need to send in any payment vouchers. When you pay while electronically filing your taxes, different card fees apply.
Of course, you can also choose to pay your tax bill the old-fashioned way, by sending in your check or money order and a voucher. If we have prepared your tax return, you will receive vouchers with your copy. If you receive a digital copy of your return only, the address(es) to send your payment(s) to are on the return cover letter. For paper copies, we provide pre-addressed envelopes. For all mailed-in payments, we recommend sending them via certified mail with return receipt for tracking purposes.
If you choose to mail your tax payment:
- Make your check, money order or cashier’s check payable to U.S. Treasury.
- Please note: Do not send cash through the mail. If you prefer cash payment, see “More Information” below.
- Enter the amount using all numbers ($###.##).
- Do not use staples or paper clips to affix your payment to your voucher or return.
- Make sure your check or money order includes the following information:
- Your name and address
- Daytime phone number
- Social Security number (the SSN shown first if it’s a joint return) or employer identification number
- Tax year
- Related tax form or notice number
Just because you mail in a check, it may not show as cashed when the funds are withdrawn from the bank. When you provide a check as payment, you authorize the IRS either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. When they use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day your payment is received, and you will not receive your check back from your financial institution.