What is the best way to pay the IRS?
I’ve always sent check payments to the IRS but my new accountant / tax preparer wants me to try doing it online. I would like to research on the differences and the pros and cons of each manner of payment. Thanks.
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4 Answers
Really doesn’t matter, as long as you meet the deadline. If you mail it, then the envelope needs to be postmarked by midnight on the due date (April 17).
If you pay electronically they debit your card or account the minute they process your return. If you mail a paper check, you get a couple of days extra ‘float’ until it arrives at their processing center, and open the mail, and get to your return.
Safety wise, about the same. Except that if you give the IRS your credit card or checking account number, they can always use it to debit your account and take money out.
Unless there is a compelling reason to pay electronically, write a check.
A friend had a $60K IRS bill and I helped him go online and pay it. It worked fine.
But if you have any doubt, send a check. There is no disadvantage.
https://www.irs.gov/payments/direct-pay
Click on the Make a Payment link. First, you’ll explain why you’re making a payment and how it should be applied. Next, the website will ask for some personal information, to verify your identity. Finally, you enter your payment information. You’ll immediately receive a confirmation of successful payment; you should print the page to paper or e-format and keep it.
This method is quick, easy, and reliable. There’s no need to bother with a payment voucher, check, and Certified Mail, and there are no concerns about your payment’s location.
if you give the IRS your…checking account number, they can always use it to debit your account and take money out The IRS can’t arbitrarily remove funds from your account. Any levy of assets results from a lengthy procedure. Also, every paper check provides the applicable account number and financial institution routing number, the same information provided in an online payment.
I use a check. Be sure to write “Form -1040” and your SS number on it.
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