How To Pay Federal Taxes Online?

 With the advancements in internet technology, tax payments have become very easy. Paying taxes online is one of the ideal ways to do the work in seconds. You do not have the need to move out of your comfort zone. If you are someone who is wondering as to how to pay taxes online or pay federal taxes online, then this is the right spot for you to know about it. For employees or workers, your employer on a monthly basis usually withholds taxes. You might still have the requirement to pay balance due only after preparing the tax returns. People, who are self-employed, will have to determine the taxes on quarterly installments. As the year ends, you will have to settle those outstanding taxes. This falls on every 15 April of a year.  There are different options accessible in order to enable an individual to make the payments of tax to IRS. Following are the six options to consider when it comes to paying taxes online.

How to pay federal taxes online?

1. Payment by either money order or check: The ideal ways in which an individual can settle all the outstanding tax bills can be none other than by writing the check to IRS. Then you will have to post it to IRS office. You can also attach check to tax returns. Make sure that amount you fill on your check is similar to that of outstanding taxes, indicating in return. This will help you in enabling easier verification. You can even send a money order or check at any opoint of time but within a year so that you can settle all your outstanding taxes. You will have to mention your name, Social Security number, residential address, contact number and tax year. To send the check to the specified address, you need to see IRS website. You can even drop your check at the IRS office, which is nearby.

how to pay taxes online

2. Electronic fund transfer: Paying taxes online have never been easier in this way. Yet another ideal option that is available for settling the due taxes can be through electronic fund transfer. The IRS offers a system in order to facilitate the process, which refers to EFTPS – Electronic Federal Tax Payment System. You can even pay the taxes or even schedule the payments with the help of this system. You have complete rights to use the system through the website named eftps.gov. You can even call IRS number (toll free) for any queries. The number is 800-555-4477.

3. Options to pay installments for taxes that are below $25000: If you indebt taxes that are less than $25000, then you will have to set up the installment payment scheme via IRS website. This online website helps in providing service, popularly refers to “OPA – Online Payment Agreement”. This service enables a person to pay due taxes as monthly installments so that he or she does not finds it hard to pay it as a lump sum. However, you will be charged some interests if you happen to make the payment late. You can even set installment payment scheme by just filing the “IRS Form – 9465”. This is popularly known as Installment Agreement Request Form. Once you file the form, IRS will respond you with further formalities.

4. Options to pay installments for taxes that are above $25000: If you owe those taxes, which are over $25000, then you will have to file the Form 433F, popularly referred as “Collection Information Statement”. This important thing measures an installment payment plan. The form needs you to supply details of your financial assets and other finance related information. You will also need to attach different support documentations associated with your finances.

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