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.
Business Valuation Experience
Business Valuation Experience Valuation Services Valuation Process Sample Report Glossary of Terms The Business Valuations group at Greenstein Rogoff Olsen & Co provides the expertise of a large big four firm with the hands on individualized service of a small local firm. We are committed to provide our clients and their advisors with the highest…
Stock Option
Stock Option Valuation Services Valuation Process Valuation Experience Sample Report Glossary of Terms It is extremely important in today’s regulatory environment that stock options are managed correctly, which includes all the various valuation issues that surround options. Because of this, the valuation analyst must have a working knowledge of stock option plans, in addition…
IRS Extension 409A
IRS Extension 409A The IRS has issued Notice 2007-86 which delay the effective date of the Proposed Regs under Section 409A until January 1, 2009 and by generally extending earlier transitional relief. This provides taxpayers additional transitional relief to come into compliance with forthcoming final regs. Options granted before 2009 won’t be considered as violating…
ESOP Valuation Issues
ESOP Valuation Issues Q&A (Employee Stock Ownership Plan) Valuation Services Valuation Process Valuation Experience Sample Report Glossary of Terms ESOPs have become an effective tool in corporate finance and tax planning. Not only do they provide retirement benefits and incentives to employees but an ESOP can provide unique ways to transition company management in tax…