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.
IRS Hitting Estimated Tax Filers With More Penalties
The IRS plays no favorites when it comes to taxpayers missing payments or not paying enough. However, those who pay their income tax via quarterly estimated payments had better pay particular attention because lately the IRS has been coming down hard on these individuals with much more frequency. According to recent IRS data, the number…
Look Who the IRS Is Adding to its Staff
Look Who the IRS Is Adding to its Staff For those who believe in giving people a second chance this will be good news. For those who feel the IRS is already rife with crooked employees that will stop at nothing to take more of taxpayers’ money, this news will leave a bad taste in…
Are Up to Date on Your Taxes for Your Side Job?
Are you up to date on your taxes for your side job? The saying goes: “Don’t quit your day job.” Millions of Americans take that advice to heart, but that doesn’t mean they aren’t investigating other avenues for making additional money. There are all kinds of side jobs, from small hobbies to night jobs, or…
Tax Relief Courtesy of Hurricane Harvey
While Hurricane Harvey continues to devastate the Gulf Coast, Texans can expect to receive a little extra relief this upcoming tax year from Uncle Sam. Taxpayers in the federally declared disaster area have the option of claiming disaster-related casualty losses for either the year that the event occurred or the year prior. This means that…