- Online with Direct Pay – Did you know that you can no longer have to deal with the stress of paying, by setting up an electronic funds transfer? It goes directly from your savings account through Direct Pay on the IRS website, as long as you already have the money in your account. You can also access the app from your phone. And yes, thank God for living in the technology era, as the IRS app is available on the Amazon App Store, the Apple App Store, and Google Play! Plus, the IRS won’t charge you anything for processing the payment.
- From your bank account using EFTPS.gov – For those of you who have planned everything well enough to live freely for an entire year, you can schedule your payments 365 days prior to any taxes due to the IRS. How? All you need to do is register with the Electronic Federal Tax Payment System (EFTPS). EFTPS is a great choice if you want to schedule all of your tax payments at once, they’re all particularly large, and those payments are directly linked to your business. Given the fact that The Treasury Department operates with EFTPS, you won’t be charged any processing fees. The system handles any type of federal tax payment, including 1040 balance due payments, extension payments, corporate taxes, and payroll taxes.
- Online by debit or credit card – If you want to pay your taxes with your credit or debit card, you can, as long as you use one of the approved payment processors. There are three available processors, and you can easily access any of them on the IRS website: PayUSATax.com, Pay1040.com, ACI Payments, Inc. All these sites charge a processing fee, but it can be tax-deductible, depending on your tax situation.
…Keep reading for some more great tips!