IRS’s Direct Pay Service Is Gaining Popularity
Everyone seems to love things that are automatic. In fact, when it comes to financial transactions, cash is hardly ever involved anymore, these days, as everything happens with either swipes or pushing buttons. The same is true with taxes, including the popular e-file option for millions of taxpayers every year.
It turns out getting your refund isn’t the only way to do things electronically with the IRS. The federal tax agency is also very glad to take your money through electronic means. In fact, according to the IRS, it has now processed more than one million electronic tax payments through its Direct Pay option, for a grand total of more than $1.7 billion.
The IRS’s Direct Pay system allows people to pay their tax bills or estimated tax payments online. It is a free service and payments go directly from your bank account to the IRS. The system is not just for tax season, either. With the tax correspondence season now hitting full steam, additional tax assessments and bills for unpaid taxes will soon be arriving in taxpayers’ mailboxes.
With Direct Pay people can make those payments 24 hours a day, seven days a week and the IRS hopes many people will use this service. If you should mess up you also have the option to fix your mistake so long as the payment hasn’t already been processed. Of course, if you do use Direct Pay, make sure you have money in your account to cover the bill.
Underpayment of Taxes – Personal Returns – How to Avoid Penalties – Dreaded “Spiky Income”
Underpayment of Taxes – Personal Returns – How to Avoid Penalties – Dreaded “Spiky Income” By Ron Cohen, CPA, MST Partner Greenstein, Rogoff, Olsen & Co., LLP One of the most frustrating issues taxpayers confront as they attempt to deal with their taxes is to determine the required amount and due dates for estimated tax…
Are You Ready for the 2014 Tax Year?
Are You Ready for the 2014 Tax Year? If you’re like most individuals or businesses then you’re probably breathing a sigh of relief as the 2013 tax year is finally in the rearview mirror, except for those who have filed for an extension, of course. Well, don’t get too comfortable; it’s time to start thinking…
6 Tips for Avoiding Digital Clutter
6 Tips for Avoiding Digital Clutter What is “Digital Clutter” and why do we need to avoid it? Although there isn’t a true definition for the phrase, we can define the term “clutter” and apply it to the digital world. “Clutter” is defined as a collection of things lying about in an untidy mess. Although…
Enduring Your Race
Enduring Your Race Every Year in Australia, an endurance race is held. It stretches from Sydney to Melbourne totaling 543.7 miles. For a world class athlete it takes five days to run. These athletes are young, professionally trained, and receive huge sponsorships Cliff Young was a very unlikely competitor in the race. At the age…