Whether or not your tax return is ready to file, the IRS deadline of April 18th, 2022 is fast approaching. With only a few weeks to spare, even if you file your taxes today, the best thing to do is pay any Federal or state taxes you owe directly online. We believe making electronic payments is the faster, more efficient way to get the IRS out of your hair.
Avoid the Post Office
You’ll avoid a trip to the post office and paying for certified and return receipt services by paying tax payments online. Why stand in a long line when you can be done in a few clicks? By paying online, convenience wins the day.
When avoiding the postal service, you’ll also avoid any hassle with USPS mail delivery. Things happen, and mail gets lost or delayed. Certified mail, return receipt, and delivery confirmation does not guarantee timely delivery. In fact, they can sometimes improperly report that your shipment did not arrive, when in fact, it did. Then the status of your payment is stuck in limbo until it clears your bank. Mailed checks might not meet the tax deadline. By paying taxes electronically, you cut out the middleman and send your payment directly to the IRS with no issues or delays. Paying online also allows funds to clear your account quickly and unlike an uncashed check, reduces the danger of overdrawing your account.
Making Federal Tax Payments Online
The IRS allows you to make an account on their website in order to keep track of all your payments in the past. Here, you’ll be able to make a secure online payment and see your past IRS records, including returns, credits, or transcripts. You will also be able to see what tax year and form you’re paying for.
You can also make a payment to the IRS as a guest without a formal account. You can make a payment directly from your bank account, credit, or debit card at their guest payment page. However, if you pay by credit card, you will incur approximately a 2% fee which becomes substantial when you have a large payment. If you plan to pay your taxes via credit card in hopes of earning rewards, the 2% fee for the privilege likely outweighs the reward you’ll receive. These payment methods help you avoid interest and penalties occurred for late payments.
Paying online also has the perk of giving you a confirmation number, which means you’ll be able to look up your payments on the website at any time and prove that you’ve paid them if you should need it. Making online payments also gives you the flexibility to plan and pay your estimated tax payments four times a year without writing and sending checks that might run into snags through the USPS. If you are transitioning to online payments, know it can take up to 48 hours for your online account to reflect your recent payment.
Paying State Taxes Online
In the same way, you can pay online for Federal taxes, you can also pay online for your state taxes. Here is a website with a list of state sites online for either state revenue or Comptroller sites. Make sure you double-check your state guidelines before submitting any personal information. Just as with Federal tax payments, state tax payments also come with a confirmation number to look up your payment later should you need to.
Efficient and Streamlined and Not a Headache to be Found
By paying your taxes electronically, you’ll save yourself the hassle of worrying about a mailed payment having the proper postmark date. You’ll also save yourself a mind-numbing trip to the post office, which frees up your time as well as your money, considering you also won’t need to pay for certified mail, return receipt, or delivery confirmation. Make your life easier and headache-free by paying your taxes online.
At Organized Instincts, our seasoned team of daily money managers can help you streamline your financial tasks and routines, such as making tax payments online. Schedule a free consultation today and see how we can help save your sanity this tax season.