How to pay the IRS now

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DarkHelmetII
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How to pay the IRS now

Post by DarkHelmetII » Fri Mar 22, 2019 8:34 am

Haven't finalized my taxes but have a good estimate on what I know, which is not chump change (at least for me). I want to get this $$ out of my checking account and into the government coffers so psychologically I know that this chunk of money is not "mine."

My question: how do I pay right now vs. sending in a check with my taxes, which will most definitely be a last-minute filing? Can I make a payment online?

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samsoes
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Re: How to pay the IRS now

Post by samsoes » Fri Mar 22, 2019 8:37 am

Yes you can.

I opened an account at www.eftps.gov which I use for payments such as this. It can also be used to schedule your quarterly estimated payments, if applicable. Very convenient.
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)

amitb00
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Re: How to pay the IRS now

Post by amitb00 » Fri Mar 22, 2019 8:38 am

https://www.eftps.com/eftps/
You can make payments to IRS at above site

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midareff
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Re: How to pay the IRS now

Post by midareff » Fri Mar 22, 2019 8:40 am

samsoes wrote:
Fri Mar 22, 2019 8:37 am
Yes you can.

I opened an account at www.eftps.gov which I use for payments such as this. It can also be used to schedule your quarterly estimated payments, if applicable. Very convenient.
+1 Additionally, I use it for quarterly tax payments which I carefully estimate and schedule at the beginning of the tax year. Being retired income is fairly constant so it's not difficult. When something happens and I think I'll be short I will schedule an additional payment. This year's refund was $38 so I guess I project reasonably accurately.

lakpr
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Re: How to pay the IRS now

Post by lakpr » Fri Mar 22, 2019 11:39 am

How is your credit?

You might want to apply for a good rewards card and charge the payment to IRS on this card. The reward on the payment will cancel out the increased fees, most likely, but the BONUS is yours to keep.

Lessens the sting just a bit

jebmke
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Re: How to pay the IRS now

Post by jebmke » Fri Mar 22, 2019 11:42 am

You can also use directpay. EFTPS takes some time to setup.

https://www.irs.gov/payments/direct-pay
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Topic Author
DarkHelmetII
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Re: How to pay the IRS now

Post by DarkHelmetII » Fri Mar 22, 2019 11:46 am

jebmke wrote:
Fri Mar 22, 2019 11:42 am
You can also use directpay. EFTPS takes some time to setup.

https://www.irs.gov/payments/direct-pay
"directpay" sounds, well, more direct. What then is the advantage of EFTPS over directpay?

Thank you all for the input!

erictiger
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Re: How to pay the IRS now

Post by erictiger » Fri Mar 22, 2019 11:51 am

I use BOA travel reward visa with 2.65% reward.

pasadena
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Re: How to pay the IRS now

Post by pasadena » Fri Mar 22, 2019 11:53 am

I know it doesn't answer your question, but what I did is, I opened a sub-account (savings at Ally) just to park the money I owe the IRS. When I filed, I told them to take the money directly from that account on April 15th. That way the money is out of my regular accounts, and in my mind it's already spent. And it'll earn me some $20 in the meantime (I filed early February).

miamivice
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Re: How to pay the IRS now

Post by miamivice » Fri Mar 22, 2019 11:54 am

DarkHelmetII wrote:
Fri Mar 22, 2019 8:34 am
Haven't finalized my taxes but have a good estimate on what I know, which is not chump change (at least for me). I want to get this $$ out of my checking account and into the government coffers so psychologically I know that this chunk of money is not "mine."

My question: how do I pay right now vs. sending in a check with my taxes, which will most definitely be a last-minute filing? Can I make a payment online?
Yes, you can make a payment online. Google estimated tax payments. You type in some information and 2018 as the tax year and boom! they are paid.

lakpr
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Re: How to pay the IRS now

Post by lakpr » Fri Mar 22, 2019 12:01 pm

DarkHelmetII wrote:
Fri Mar 22, 2019 11:46 am
jebmke wrote:
Fri Mar 22, 2019 11:42 am
You can also use directpay. EFTPS takes some time to setup.

https://www.irs.gov/payments/direct-pay
"directpay" sounds, well, more direct. What then is the advantage of EFTPS over directpay?

Thank you all for the input!
Sounds like EFTPS can accept payments > $10 million, Direct Pay cannot. For you and me, nil.

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abuss368
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Re: How to pay the IRS now

Post by abuss368 » Fri Mar 22, 2019 12:07 pm

DarkHelmetII wrote:
Fri Mar 22, 2019 8:34 am
Haven't finalized my taxes but have a good estimate on what I know, which is not chump change (at least for me). I want to get this $$ out of my checking account and into the government coffers so psychologically I know that this chunk of money is not "mine."

My question: how do I pay right now vs. sending in a check with my taxes, which will most definitely be a last-minute filing? Can I make a payment online?
Yes. Register with www.eftps.gov

Have used this many times. IN fact I made an estimated tax payment for 2019 this morning.

Easy and fast. No need for checks any longer.
John C. Bogle - Two Fund Portfolio: Total Stock & Total Bond. "Simplicity is the master key to financial success."

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CAsage
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Re: How to pay the IRS now

Post by CAsage » Sat Mar 23, 2019 11:14 am

Weirdly enough, if you don't do this very often, you can just mail a check today. Print a 1040-V and mail it with a check. I'm developing an aversion to more accounts, more logins, more secret passwords...

https://www.irs.gov/payments/pay-by-che ... oney-order
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samsoes
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Re: How to pay the IRS now

Post by samsoes » Sat Mar 23, 2019 11:21 am

CAsage wrote:
Sat Mar 23, 2019 11:14 am
Weirdly enough, if you don't do this very often, you can just mail a check today. Print a 1040-V and mail it with a check. I'm developing an aversion to more accounts, more logins, more secret passwords...

https://www.irs.gov/payments/pay-by-che ... oney-order
Come on...checks are so 20th century...

(Now where's my hoola-hoop...?)
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)

Thesaints
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Re: How to pay the IRS now

Post by Thesaints » Sat Mar 23, 2019 11:27 am

Signed up to the EFTPS years ago, but direct pay is a thousand times more practical. I don’t even know my eftps login info anymore.
Mailing a check costs you a stamp, the envelope, and the chance that it does not get there (or that it does and they lose it).

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samsoes
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Re: How to pay the IRS now

Post by samsoes » Sat Mar 23, 2019 11:30 am

Thesaints wrote:
Sat Mar 23, 2019 11:27 am
Signed up to the EFTPS years ago, but direct pay is a thousand times more practical. I don’t even know my eftps login info anymore.
Mailing a check costs you a stamp, the envelope, and the chance that it does not get there (or that it does and they lose it).
Plus the check has your routing number and the IRS likes your SSN written on the check, both of which would be very valuable if stolen along the way.

Yikes! :oops:
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)

ivk5
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Re: How to pay the IRS now

Post by ivk5 » Sat Mar 23, 2019 4:40 pm

CAsage wrote:
Sat Mar 23, 2019 11:14 am
more logins, more secret passwords
Are there really still people out there in 2019 who don’t use a password manager?

How on earth can anyone memorize hundreds of unique randomly generated complex passwords?

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