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.
Building an Estate Planning Team
Building an Estate Planning Team To create an estate plan that serves your unique needs and that will execute your wishes as to the distribution of your assets is an important and, often, a complex task. Such professionals usually have honed their skills in their own specific fields. Sound estate planning is built upon a…
Investors: A Growing Taste For Exotic Fare
Investors: A Growing Taste For Exotic Fare Even conservative investors are tempted by the returns of emerging-market funds For many managers of emerging-market funds, the biggest problem these days is that folks just love them too much. It used to be that buying stocks in Turkey and picking up distressed debt in Argentina was for…
When it Comes to Payroll Taxes, Don’t Mess With the IRS
When it Comes to Payroll Taxes, Don’t Mess With the IRS It’s payday! Everybody loves payday, except for the company making all those payments. It’s not that companies don’t want to pay their employees; rather it’s the high cost of payroll taxes that comes with having those employees. However, that’s the law, so if your…
Ten Facts about Capital Gains and Losses
Ten Facts about Capital Gains and Losses Source: IRS.gov The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset. Here are 10 facts from the IRS on capital gains and losses: Almost everything…