IRS offers Electronic Payment options on both its payment page and in its IRS2Go App. Payments can also be scheduled in advance too and you will receive a confirmation when you submit the payment. Electronic Payment options are much better than the usual methods of a money order or mailing a check as they are much secure through the latest encryption technology and also the payments are made just in a few moments as these options are fast, secure, and quick. The best and convenient way to pay your taxes is electronically either through phone or your cards as funds are transferred on the same day through these methods.
It is recommended that you pay your taxes within the given filing due date as to avoid any unnecessary circumstances, however, if you are not to pay off the taxes within the given time frame then interest will be levied on the tax balance along with a monthly late payment penalty.
There is also a penalty if a person fails to file a tax return, so you should file the tax return as soon as possible even if you are unable to pay the whole balance in full. It is in the best interest of the individuals to pay their tax balance in full as soon as possible in order to avoid/minimize additional charges.
IRS Payment Methods
- Direct Pay (Bank Account)
- Debit or Credit Card
- Mailing a cheque
- Money Order
- Cash (at a retail partner)
- Electronic Federal Tax Payment System
- Electronic Funds Withdrawal
IRS Monthly Payment Plan
If for someone financial difficulties you are not able to pay your balance in full immediately or within 120 days then you may qualify for a monthly plan. A payment plan allows you to make monthly payments of a fixed amount over time unless your tax balance has been cleared. To request a monthly payment plan, you can use the OPA Application or fill the Form 9465 & Installment Agreement Request (PDF) and mail it to the IRS.
The IRS offers various options for making monthly payments including:
- Direct debit from your bank account
- Payroll deduction from your employer
- Payment by Electronic Federal Tax Payment System (EFTPS)
- Payment by credit card via phone or Internet
- Payment via check or money order
- Payment with cash at a retail partner