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.
Why Are These Wealthy Taxpayers Angry About Taxes?
Why Are These Wealthy Taxpayers Angry About Taxes? By Alan Olsen In most cases, when you hear about someone being angry about taxes, you automatically assume they think they’re paying too much. Nearly all taxpayers think they pay too much, no matter their income level. But for the most part, wealthy taxpayers tend to be…
Last-Minute Tax Tips for High Net Worth Taxpayers
Last-Minute Tax Tips for High Net Worth Taxpayers If you’re one of those taxpayers that like to wait till April to file his or her taxes, then there are still some new things you should know about before you file. That’s especially true if you’re a high net worth individual or an investor. By now,…
What Should You Do if You Can’t Pay Your Tax Bill on Time?
What Should You Do if You Can’t Pay Your Tax Bill on Time? The 2019 tax season is in full swing and it’s already come with several changes and surprises. One of the biggest surprises is the number of taxpayers that are either getting a much smaller refund, or not getting a refund period. However,…
Could This Year’s Tax Refund Be Bigger Than Last Year’s?
Could This Year’s Tax Refund Be Bigger Than Last Year’s? If you’ve heard anything about the 2019 tax season, it’s probably that refund amounts are way down. That storyline has made a lot of news. And opponents of the Tax Cut and Jobs Act (TCJA) have definitely used it as “proof” that the changes were…