Hi All,
Here's a little information on if you owe taxes.
For taxpayers who owe taxes with theirtax returns, the IRShas provided ten tips about how to pay:
1. Taxpayers should never sendcash.
2. If taxpayers e-file, they canfile and pay in a single step with an electronic funds withdrawal. If theye-file on their own, they can use their tax preparation software to make thewithdrawal. If they use a tax preparer to e-file, they can ask the preparer tomake their tax payment electronically
.
3. Taxpayers can pay taxeselectronically 24/7 on IRS.gov.Just click on the ‘Payments’ tab near the top left of the home page fordetails.
4. They can also pay by check ormoney order. They should make their check or money order payable to the “United States Treasury.”
5. Whether they e-file their taxreturn or file on paper, taxpayers can also pay with a credit or debit card.The company that processes their payment will charge a processing fee.
6. Taxpayers may be able to deductthe credit or debit card processing fee on next year’s return. It’s claimed onSchedule A, Itemized Deductions. The fee is a miscellaneous itemized deductionsubject to the 2 percent limit.
7. Taxpayers should be sure towrite their name, address and daytime phone number on the front of theirpayment. Also, they should write the tax year, form number they are filing andtheir Social Security number.
8. Taxpayers should complete Form1040-V, Payment Voucher, and mail it with their tax return and payment to the IRS.They should make sure they send it to the address listed on the back of Form1040-V. This will help the IRSprocess their payment and post it to their account. The form is available on IRS.gov.
9. The IRSreminds taxpayers to enclose payment with their tax return but do not staple itto any tax form.
10. For more information, call800-829-4477 and select TeleTax Topic158, Ensuring Proper Credit of Payments.You can also get information in the instructions for Form 1040-V.
Franklin Katz, ATP, PA, PB
Frank's Tax & Business Service
315 E. King St.
[h=1]Kings Mountain, NC 28086[/h][h=1]Local # 704-739-4039 Toll Free# 877-857-1040[/h][h=1]E-Mail: [email protected])[/h][h=1]Web: Kings Mountain, NC Accounting Firm | Home Page | Frank's Tax & Business Services[/h][h=1] [/h][h=1]IRS Circular 230 Notice: Unless expressly stated otherwise inthis
transmission, any tax advice contained herein, forwarded with or attached to
this message was not and is not intended to be used, nor may it be relied
upon or used, by any taxpayer for the purpose of (1) the avoidance of any
tax-related penalties under the Internal Revenue Code or applicable state or
local tax law provisions, or (2) promoting, marketing or recommending to
another party any tax transaction or tax-related matters that may be
addressed herein.
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