For taxpayers who received an extension until October 15 to file their 2013 federal return, and now find that they owe additional tax, Direct Pay is and electronic option to pay the additional amount due. This online system offers taxpayers an easy way to quickly pay their tax bills without having to write a check and mail in their payment. The Internal Revenue Service announced earlier this month, that more than one million tax payments have been processed already this year through the IRS Direct Pay Link.
The IRS is encouraging anyone facing upcoming tax payment deadlines, and those who have received IRS correspondence, stating that additional tax is due, to consider using their free online system to quickly and easily pay what they owe.
Additionally, Direct Pay gives taxpayers the option to schedule payments up to 30 days in advance, so many are also using this electronic alternative when paying their quarterly federal income tax payments. Direct Pay cannot be used to pay business taxes. Taxpayers who wish to e-pay their federal business taxes should enroll in the Electronic Federal Tax Payment System (EFTPS) or click on the Pay Your Tax Bill icon to check out other payment options.
Our firm can be your trusted resource for tax planning throughout the year. Many of our clients have us prepare a Tax Projection for them in the last quarter of each year. This can help to alleviate the tax ‘sticker-shock’ that can take place when no tax planning is in place.