Payment Options. August 2017

Transcription

1 Payment Options August 2017

2 Payment Options: Pay Online, Installment Plans and More

3 Electronic Funds Withdrawal! Pay balance due with electronically filed return! Individual and business filers can e-file and e-pay in a single step! Payments can be scheduled for a future date, up to the return due date

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5 Welcome to Direct Pay IRS.gov/DirectPay

6 Direct Pay Is!! For individual taxpayers only! Free! Secure! Available on IRS.gov/payments and the IRS2Go app

7 Direct Pay Step 1 Reason for payment?

8 Direct Pay Step 1 Select Return Type for Payment

9 Direct Pay Step 1 Select Tax Period for Payment

10 Direct Pay Step 2

11 Direct Pay Step 2

12 Direct Pay Step 3 Your Payment Information!Amount of payment!payment date (within 30-days)!Bank routing & account number!account type checking or savings

13 Direct Pay Steps 4 & 5! Step 4 Review and sign! Step 5 Print or record confirmation number! Use confirmation number to!check status of payments!edit or cancel payments

14 Direct Pay Benefits!Ability to!check payment status!cancel payments!schedule same day payments

15 Direct Pay Benefits! Saves time, money & effort!no waiting for a PIN to be mailed!no trips to post office!no postage!no money order or debit/credit card fees

16 Direct Pay Benefits! Flexible payment scheduling! Immediate online confirmation after submitting payment! Fewer payment posting errors

17 IRS.gov/DirectPay Click Make a Payment to Get Started And Follow the 5 Easy Steps

18 Polling Question All types of taxes (business and personal) can be paid through Direct Pay? a)! True b)! False

19 Polling Correct Response All types of taxes ( business and personal) can be paid through Direct Pay a)! True b)! False

20 Other Payment Options

21 Pay by Debit or Credit Card! Pay online, by phone or with a mobile device using the IRS2Go app! Safe & secure! Several payment processors to choose from! Service fee charged by processors not IRS! Can pay tax due with paper or e-filed return as well as IRS bills and notices

22 Payment Processors

23 Electronic Federal Tax Payment System EFTPS

24 EFTPS How to enroll:!!go to the website!!use your taxpayer identification number (SSN or EIN)!!Provide your banking information (account and routing number)!!get your Personal Identification Number (PIN) five days later in the mail

25 EFTPS About Payments:!Payments must be scheduled at least one calendar day prior to the tax due date (before 8:00 p.m. ET).!Remember, you can use EFTPS to make all federal tax payments and to review up to 16 months of your electronic federal tax payment history.

26 EFTPS.gov

27 Polling Question How many accounts (enrollments) do you need on EFTPS to pay both business and personal taxes? a)! One. Both business and individual taxes can be paid using the same enrollment/account information. b)! Two. One enrollment per tax identification number. c)! One. You can t pay personal taxes through EFTPS. d)! None of the above

28 Polling - Correct Response How many accounts (enrollments) do you need on EFTPS to pay both business and personal taxes a)! Two. One enrollment per tax identification number. b)! Two. One enrollment per tax identification number. c)! One. You can t pay personal taxes through EFTPS. d)! None of the above

29 IRS PayNearMe! Pay with cash at a retail partner (participating 7-Eleven locations in 34 states)! Visit Official Payments Site! Receive an confirming identity. IRS confirms identity. 2-3 days.! Receive payment bar code print or send to smart phone! Take payment bar code to store, code will be scanned, receive receipt

30 Check or Money Order! Payable to U.S. Department of the Treasury! Please include the following information:! Your name/address! Daytime phone number! SSN (of primary if joint return) or EIN! Tax year! Related tax form or notice number 30

31 Polling Question What option can you use to make Federal Tax Deposits a)! Pay by Card b)! Direct Pay c)! Electronic Federal Tax Payment System d)! IRS PayNearMe

32 Polling Correct Response! What option can you use to make Federal Tax Deposits? a)! Pay by Card b)! Direct Pay c)! Electronic Federal Tax Payment System d)! IRS PayNearMe

33 Can t Pay Now?

34 Online Payment Agreements! Individuals! $50k or less total assessed tax, penalty, and interest! Full filing compliance! 72 Monthly payments

35 Online Payment Agreements! Businesses! $25k or less total assessed tax, penalty, and interest! Full filing compliance! 24 monthly payments! Current year and prior-year liabilities only

36 OPA Benefits! Faster, cheaper, easier! Payment terms from 10-days to 72 months! Options for method of payment! Immediate confirmation/approval! No direct contact all online

37 Offer in Compromise

38 Offer in Compromise Pre-Qualifier Tool! Good candidate?! Reasonable offer amount?! Use as guide for!doubt as to Collectibility offer 38

39 Resources 39

40 QUESTIONS? Please feel free to come visit us in the Expo Area if you have any questions. 40