How to pay your taxes when you e-file

[Jerry1]

I will have to pay taxes this year due to a year end Roth conversion. I'll e-file with Turbo Tax. I see I can write a check and it appears that there are other options. I wondered what others do. It seems like I'd be able to log into my IRS account and schedule a payment for a few days before April 15th. I'd prefer not to write a check. I'm also not sure about giving my routing number through TT and trying to get them to pull the money on a certain date, but maybe I'm over thinking that part, having never done this.

 

[mebden]

I will have to pay taxes this year due to a year end Roth conversion. I'll e-file with Turbo Tax. I see I can write a check and it appears that there are other options. I wondered what others do. It seems like I'd be able to log into my IRS account and schedule a payment for a few days before April 15th. I'd prefer not to write a check. I'm also not sure about giving my routing number through TT and trying to get them to pull the money on a certain date, but maybe I'm over thinking that part, having never done this.

Jerry did you not have the account where you did the conversion take out the taxes during the conversion as I know Schwaab always ask do you want to hold out what % for federal and state taxes?

 

[badatmath]

I write checks but I might try one of other methods this year. It amused me to see you can pay with cash. Payments | Internal Revenue Service

Certain I will owe but they said my 1099 isn't available yet so IDK how much.

 

[rk911]

Ths IRS just pulls any tax due from our bank account or deposits our refund into the account. You can arrange that thru the software or on the paper 1040. Otherwise we use EFTPS.GOV to set up our quarterly estimates. You. can pay what you owe there.

 

[2017ish]

...I'm also not sure about giving my routing number through TT and trying to get them to pull the money on a certain date, but maybe I'm over thinking that part, having never done this.

This is what I've always done, even in years in which we owed substantial sums (without penalty). Has worked fine with both TT and HRBlock over the years/decades. I figure that if I write a check, the routing number is available to anyone who looks at it...

 

[audreyh1]

I have used EFTPS since 2004. It’s the Electronic Federal Tax Payment System. You create an account and link it to a bank account. Then you can schedule tax payments. It’s very straightforward.

We efile usually in March, but I schedule the tax payment for 4/15 via EFTPS.

 

[TheWizard]

Additional tax due to a year-end Roth conversion should ideally be sent in as a quarterly payment by JANUARY 15th, not April 15th...

 

[audreyh1]

If safe harbor has been met the remainder is due 4/15. I assume he’s talking about the final tax payment after efiling his 2024 return.

 

[Koolau]

We have the option when we e-file to receive any refund directly INTO our checking account. We also have the option to pay what we owe FROM our checking account. OR we can just mail them a check with a short form to "remind" them what it's for. They try to make it easy to get money to them.

 

[Alan]

Ever since it’s been available I have had the money put or paid directly into my bank account. It’s easier, faster and I think a lot more secure and reliable than mailing a check through the post.

 

[mrfeh]

ACH from bank account.

 

[target2019]

I use the IRS site or TurboTax method.

 

[marko]

Ever since it’s been available I have had the money put or paid directly into my bank account. It’s easier, faster and I think a lot more secure and reliable than mailing a check through the post.

+1. We do it all online via TT. The mail is highly unreliable around here. ( Got a Christmas card in March postmarked Dec 18)

"....not sure about giving my routing number through TT..." you've already given them ALL of your most intimate financial information. Your checking account numbers should be the least of your concerns, imo.

 

[MissMolly]

I use IRS Direct Pay. It's an official IRS site. No setting up of any account for multiple payments. Just fill in amount and bank information for a single payment. Easy peasy.

 

[old medic]

I will have to pay taxes this year due to a year end Roth conversion. I'll e-file with Turbo Tax. I see I can write a check and it appears that there are other options.

We wrote a check, and it disappeared someplace. We finally cancelled it and set up an account and paid online. Thats what we'll do from now on.

 

[frank05]

I just schedule TurboTax to withdrawal from my bank account near the 4/15 date. Not sure if it is TurboTax or the IRS that does the scheduling but it has always worked.

 

[jebmke]

I use EFTPs; that way, even if I wait and file in May, the payment is scheduled and occurs on time

 

[Jerry1]

Jerry did you not have the account where you did the conversion take out the taxes during the conversion as I know Schwaab always ask do you want to hold out what % for federal and state taxes?

No. We wanted to have the full amount converted going into our Roth so we decided to pay the taxes out of our brokerage account.

I have used EFTPS since 2004. It’s the Electronic Federal Tax Payment System. You create an account and link it to a bank account. Then you can schedule tax payments. It’s very straightforward.

We efile usually in March, but I schedule the tax payment for 4/15 via EFTPS.

Thanks. I was looking at that last night but I wasn't sure if you could schedule your 2024 tax payment that way.

If safe harbor has been met the remainder is due 4/15. I assume he’s talking about the final tax payment after efiling his 2024 return.

Exactly.


FWIW, I changed the way I'm handling payments this year. I cancelled all the withholdings and now will make estimated payments. I did set up an IRS account but I haven't had a chance to use it yet. I got tired of dealing with changing my withholding every year to meet safe harbor. There was always a lag so I had to make sure that enough was withheld. Estimated payments should be more straightforward.

 

[PaunchyPirate]

I just have TurboTax set up the electronic withdrawal from my bank account. I usually tell them to take the money on April 1st so that I can see it getting paid before the April 15 deadline. It's the IRS that actually takes the money, not TurboTax or an intermediary. True, I'm entrusting TurboTax to pass the routing info to the IRS, but that's on every paper check I have ever written as well, so lots of eyes can see that information.

 

[VanWinkle]

EFT and chill

 

[audreyh1]

Thanks. I was looking at that last night but I wasn't sure if you could schedule your 2024 tax payment that way.

Yes. You can schedule the final tax payment as well as estimated tax payments. After we file our taxes I usually schedule the final payment as well as all four estimated tax payments for the new tax year at the same time. Very convenient. Be sure to assign the correct tax year.

If you want to use EFTPS you might want to set up an account now so they have time to verify information. I think they may do some of it by mail, but it’s been a long time since I signed up. EFTPS: The Electronic Federal Tax Payment System | Internal Revenue Service

 

[ncbill]

I use IRS Direct Pay. It's an official IRS site. No setting up of any account for multiple payments. Just fill in amount and bank information for a single payment. Easy peasy.

Same for me.

Although with the US Bank credit card rebating 4% I've read of people using that instead.

There is a fee via various payment services but it is less than 4% so you still get some rebate.

 

[OldConch]

I apply for a new credit card(s) with a large sign up bonus and pay my taxes with that card. Easily worth the 2% fee.

Google "pay your taxes by debit or credit card or digital wallet" That will take you to an IRS website that you can pay your taxes with a credit card.

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[sengsational]

I just don't want my account number (ACH data) in any database it doesn't absolutely have to be. True that they "have" the data off my check, and maybe it is scanned into a database, but I didn't agree to them holding my account info. If you put account number on the form, you're probably agreeing to some fine-print that you haven't taken the time to understand. That's probably fine, because if we can't trust Uncle Sam, who can we trust? But, on principle, I just keep my ACH data in as few databases as possible. I don't find writing a check a big deal. The software prints the voucher and I mail it. True that typing your ACH data is easier in the immediate situation, but if that increases the odds that some day there will be a glitch or bad actor, those few seconds extra for writing the check will be a worthy investment.

 

[G-Man]

If safe harbor has been met the remainder is due 4/15. I assume he’s talking about the final tax payment after efiling his 2024 return.

What is safe harbor is not met, and you own money to the IRS? Do you still wait until the April 15th date or do you pay early to avoid any additional charges?