Tax Deadlines

IRS Direct Pay or EFTPS  - are two ways you can electronically wire your federal income tax payments to the IRS.  This would include payments due on your Federal Income Tax Return or for your Estimated Tax Payments.

IRS Direct Pay is a free and secure way to pay that is located on the IRS website under "Pay Your Tax Bill".  There are no fees or preregistration requirements.  Your bank account information is not saved in the IRS system after the payment is made unlike EFTPS. 

EFTPS is also free and secure but you have to register to use this service.  Your banking information is saved so that you can schedule payments up to one year in advance.  Password and Pin numbers are setup for your privacy.  Once you register for EFTPS, you will receive a letter in the mail with the initial password, etc.  You can then log in and change the password to your specific one.

Reminder:  Estimated Tax Payment Rules - the basic estimated tax rules have not changed.  You can avoid penalties by paying in the same amount of tax for 2014 that you owed on your 2013 tax return or 90% of the 2014 total tax, whichever is less.  If your 2013 adjusted gross income is greater than $150,000, you will have to pay in 110% of the prior year's tax or 90% of this year's tax whichever is less.

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