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

Tax Topic 416  Farming and Fishing Income

If you have income from your farming or fishing business, you may be able to avoid making any estimated tax payments by filing your return and paying your entire tax due on or before March 1st of the year your return is due.
This rule generally applies if at least 2/3 of your total gross income was made from farming or fishing in either the current or the preceding year. If March 1st falls on a weekend or legal holiday, you have until the next business day to file your return and pay the tax.

If you choose not to file by March 1st, you can make a single estimated tax payment by January 15th to avoid an estimated tax penalty.
If these special rules do not apply, you may have to make quarterly estimated tax payments.
For more information on estimated tax, refer to Publication 505, Tax Withholding and Estimated Tax.

Income and expenses from farming are reported on Form 1040, Schedule F (PDF).
Additionally, self-employment tax may be required if net earnings from farming are $400 or more.
Self-employment tax is figured on Form 1040, Schedule SE (PDF).
For additional information, refer to Topic 554, Self-Employment Tax.
For more information on farming, refer to Publication 225, Farmer’s Tax Guide.

Income and expenses from fishing are reported on either Form 1040, Schedule C (PDF) or Form 1040, Schedule C-EZ (PDF).
Fishermen may also be required to file Form 1040, Schedule SE (PDF) to figure self-employment tax if their net earnings from fishing are $400 or more.
For general information about the rules applying to individuals, including commercial fishermen, who file Schedule C or C-EZ, refer to Publication 334, Tax Guide for Small Business.
Also see the article titled “Fishing Tax Center” on IRS.gov for additional information on fishing income, deductions, and other tax issues for commercial fishing.
If your trade or business is a partnership or corporation, see Publication 541, Partnerships, or Publication 542, Corporations.