Tag Archive for EFTPS

Eight Tips for Taxpayers Who Owe Taxes

Ronald Marini

While most taxpayers get a refund from the IRS when they file their taxes, some do not. The IRS offers several Payment Options for those who owe taxes. Here are eight tips for those who owe federal taxes.

Tax bill payments.  If you get a bill from the IRS this summer, you should pay it as soon as possible to save money. You can pay by check, money order, cashier’s check or cash. If you cannot pay it all, consider getting a loan to pay the bill in full. The interest rate for a loan may be less than the interest and penalties the IRS must charge by law.

Electronic Funds Transfer.  It’s easy to pay your tax bill by electronic funds transfer. Just visit and use the Electronic Federal Tax Payment System. You may also use EFTPS to pay your taxes by phone at 800-555-4477.

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The IRS Will Be Closed Tomorrow May 24, 2013 Due To Sequester

IRS has announced that due to the current budget situation, including the sequester, all IRS operations will be closed on May 24, June 14, July 5, July 22, and Aug. 30, 2013. While all IRS offices will be closed, and IRS employees will be furloughed without pay, taxpayers should nonetheless continue to file their returns and pay any taxes due as usual.

Taxpayers needing to contact IRS about their returns or payments should be sure to take these furlough dates into account. This may include taxpayers with returns or payments due soon after a furlough day, such as the June 17 deadline for taxpayers abroad and those making a second-quarter estimated tax payment, as well as the September 3 deadline for truckers filing a highway use tax return.

IRS noted that taxpayers should continue to file their returns and pay any taxes due as usual. That’s because the furlough days aren’t considered federal holidays, so the shutdown will have no impact on any tax-filing deadlines. However, IRS will be unable to accept or acknowledge receipt of electronically-filed returns on any day it is shut down.

Tax payment deadlines are also unaffected. IRS noted that the only tax payment deadlines coinciding with any of the furlough days relate to employment and excise tax deposits made by business taxpayers. These deposits must be made through the Treasury Department’s Electronic Federal Tax Payment System (EFTPS), which will operate as usual.

In the future, IRS may possibly announce one or two additional furlough days if necessary. Further details on the impact of the shutdown on IRS procedures will be available on IRS’s website.

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