The IRS has made it easy to make online payments. The following instructions apply only to individuals as S-Corporations and Limited Liability Corporations (LLCs) do not pay federal taxes.
You’ll need the following information when making your online IRS tax payment:
- Your social security number, address, phone number. If you don’t already have an online account, you’ll need to register. For registration, you’ll also need an image of the front and back of your driver’s license. You’ll be directed to verify your image by either scanning using a web cam or uploading a selfie. If you file married jointly, your spouse will also need to create an account.
- Bank information (routing number, account number, account type)
IRS Direct Pay Process
- Visit the IRS Direct Pay website
- Choose the reason for payment from the drop-down menu. The most common for individuals are “balance due” or “estimated tax.”
- Select type – income tax form 1040
- Select tax year
- Verify Identify Process
- You will be asked to verify your identity.
- If your name or address has changed (e.g., due to a divorce or a move), be sure to verify with the information that’s reflected on your verifying tax return. The IRS is verifying your identity by matching information. If it cannot match the information, the system cannot verify your identity.
- Select filing status (single, married filing jointly, head of household)
- Enter name, social security number, date of birth, address
- Enter Payment Information
- Payment amount
- Payment date
- Bank information (routing number, account number, account type)
- Review & authorize payment
Final Steps
- Save a copy of the confirmation page or email for your records.
- Upload a copy of the confirmation page to SmartVault
Start Tax Planning Now
Every personal and business situation is unique when it comes to minimizing taxes and strategic financial planning. The key to tax minimization is to begin planning before it’s too late to make course corrections that affect your personal and business’ tax liabilities. Schedule a tax planning meeting today.
