The IRS has launched “IRS Direct Pay”, a web-based payment system for individuals. Taxpayers will be able to make estimated payments and pay tax bills. No advance registration is required for the service. Individuals will need to provide their social security number, date of birth and bank account information for direct debit. Payments can be scheduled up to 30 days in advance. This payment system is in addition to the EFTPS payment system that requires advance registration. The EFTPS system allows the scheduling of payments 365 days in advance (for individuals) and 120 days in advance (for businesses). You can check the status and history of any payments made via EFTPS for the last sixteen months. IRS Direct Pay doesn’t have the capability to check estimated taxes paid. In addition, the IRS launched the “Get Transcript” service and upgraded the “On-line Payment Agreement” service that allows individuals to enter into installment payment plans with the IRS for unpaid amounts due.
IRS Launches “Direct Pay” On-line for Individuals
By Tonia Wasley|August 11th, 2014|Categories: Accounting & Bookkeeping, Business Operations, Business Tax, Individual Tax, Nonprofit Organizations|Tags: 2014, EFTPS, estimated payment, IRS, IRS direct pay, online payment, web-based payment|Comments Off on IRS Launches “Direct Pay” On-line for Individuals
About the Author: Tonia Wasley
Tonia is a manager at Bregante + Company LLP, providing tax and audit expertise to a diverse client base composed primarily of closely held companies, high net worth individuals, and nonprofit organizations.