If you are one of the millions of individuals who need to make a payment with your tax return this year, these tips will help the process go more smoothly.

1. Do not send cash to the IRS.

2. Whether you file a paper return or electronically, you can pay by phone or online using a credit or debit card.

2. If you file electronically, you can file and pay in one step by authorizing an electronic funds withdrawal via tax preparation software or a tax professional.

4. Electronic payment options provide an alternative to checks or money orders. You can pay taxes or user fees 24 hours a day, seven days a week. Visit the IRS website at www.irs.gov and search e-pay, or refer to Publication 3611, Electronic Payments for more details.

5. If you itemize, you may be able to deduct the convenience fee charged for paying individual income taxes with a credit or debit card as a miscellaneous itemized deduction on Form 1040, Schedule A, Itemized Deductions. The deduction is subject to the 2 percent limit.

6. If you file on paper, don’t staple your payment to your form.

7. If you pay by check or money order, make sure it is payable to the “United States Treasury.”

8. Always provide on the front of your check or money order your correct name, address, Social Security number listed first on the tax form, daytime telephone number, tax year and form number.

9. Complete and include Form 1040-V, Payment Voucher, when mailing your payment to the IRS. Double-check the IRS mailing address. This will help the IRS process your payment accurately and efficiently.

10.  For more information, call 800-829-4477 and select TeleTax Topic 158, Ensuring Proper Credit of Payments. You can also find out more in Publication 17, Your Federal Income Tax and Form 1040-V, both available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

Daniel Stoica Accounting Professional

Information on taxes can be found on the IRS website at www.irs.gov and is accessible 24 hours a day, 7 days a week, 365 days a year. There, you will find answers to every income tax question and you are able to download forms at any time.

You will also find information on the benefits of e-filing. E-filing is the fastest and easiest way to file your tax return. The IRS has made it simple to file on their website, with secure forms, and   provides answers to questions regarding how and where to have your refund returned to you. Two out of three taxpayers who file are doing so electronically. Almost 70% of taxpayers qualify for free e-filing.

On the IRS website you are able to check the status of your refund. If you chose to have your refund direct deposited into your bank account or you requested a check in the mail, you can click on “Where is my refund?” . Simply enter your social security number (it’s secure), your filing status, and the amount you are expecting, and you get the status of your refund.

The website even shows you how to make electronic payments of any taxes you owe. You can use a credit or debit card, authorize electronic payments, or enroll in the Treasury Department’s Electronic Federal Tax Payment System to make your payment. Electronic payments are fast easy, and secure.

Just answer a few questions and give your tax information through the EITC Assistant to see if you qualify for the Earned Income Tax Credit.

The IRS website has made it very easy to request forms, documents, and any other paperwork you may need. Nearly every tax-related document can be downloaded from the IRS website.

You can even figure the exact amount of your withholdings by using the IRS Withholding Calculator, which is also found on their website.

If you have trouble paying your taxes on time, you even have the option to apply for a payment agreement on the website. Look for the Payment Agreement Application to set up a payment plan with the IRS.

You can look for charities to see if they qualify for exemption from federal taxes. If they do, look to see what percentage of your contributions are tax deductible.

The IRS website even allows you to find out about the updated changes to the tax laws. These change regularly, so you should check often. Some tax revisions are in place for certain parts of the tax year and some laws are amended by Congress. The site shows changes that affect both individuals and businesses.

Visit www.IRS.gov when you have questions or need more information on your taxes. It really is a great resource for many of your tax questions.  For all the rest of your questions, seek the help of a qualified tax professional. 

Daniel Stoica Accounting Professional