Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about IRS Payment Plans and other Tax Relief topics.
DebtHelp.com Tip: When you become involved in an IRS payment plan, you have options available to make your monthly payments. In general, they are the same methods of payments available if you were simply paying your ‘regular' taxes.
Paper. The IRS will accept your check, money order, or cashier's check payable to the U.S.Department of Treasury. Be sure to put the tax year, tax form, and your taxpayer identification number in the memo section. Send it along with the applicable payment voucher, if needed.
Cash. Only make cash payments on your IRS payment plan at your local IRS branch office. Be sure to get a receipt. Do not mail cash.
Credit card. If you decide to pay by credit card, you have two options. Know, however, that each option will involve a convenience fee. Remember to add this amount into the final amount you are paying on your payment plan. Your two options are:
1) Official Payment Corporation (officialpayments.com) online. They also can be reached via phone at 1-800-2PAYTAX (1-800-272-9829).
2) Link2Gov via online at pay1040.com. Or, call them at1-888-PAY1040 (1-888-729-1040) to make a tax payment.
One of the easiest ways to make a tax payment on your IRS payment plan is by using EFTPS (Electronic Federal tax Payment System. Operated by the United State's Department of Treasury, this payment method involves a direct debit from your bank account. You can use this system 24 hours a day, 7 days a week. It is secure, safe, and easy to use. You simply sign up for it online through a link found on the IRS website.
Once you have been approved for an EFTPS account, you can pay your taxes online through the website of eftps.gov. Or, you can call 1-800-555-4477.
|Jennifer Mathes, Ph.D.|