Escape penalties and interest with electronic payment options on Irs.gov
WASHINGTON ― With the April 15 filing deadline approaching, the Internal Revenue Service encourages taxpayers who may find it difficult to gather the necessary documents they need to file or pay the taxes they owe to consider several options offered on Irs.gov to avoid late filing and interest penalties.
As taxpayers approach the April 15 deadline, those who owe taxes can benefit from knowing their options, the IRS said via news release.
Eligible individuals and families who earned $79,000 or less in 2023 can use IRS Free File on
Irs.gov, to electronically file their taxes. But all taxpayers, regardless of income, who need more
time to file a return can use IRS Free File as an easy and quick way to electronically file for a six-month extension before April 15, 2024.
An extension will help to avoid penalties and interest for failing to file on time, and gives taxpayers until Oct. 15, 2024, to file. However, they still must pay what they owe by the April 15 deadline.
Except for eligible victims of recent natural disasters who have until Oct. 15 to make tax payments, taxpayers who can’t pay the full amount of taxes they owe by April 15 should file and pay what they can to reduce total penalties and interest.
There are multiple ways to make electronic payments and there are options for a payment plan or an agreement with the IRS.
In one example, an IRS Online Account provides taxpayers access to important information when preparing to file a tax return, pay a balance or follow up on notices. Taxpayers can view their information online including:
– Adjusted Gross Income
– Payment history and any scheduled or pending payments
– Payment plan details – Digital copies of select notices from the IRS
Taxpayers can also use their Online Account to securely make a sameday payment for an outstanding 2023 tax balance, pay quarterly estimated taxes for the 2024 tax season or request an extension to file a 2023 return.
Interest and a late payment penalty will apply to any payments made after April 15. Making a payment, even a partial payment, will help limit penalty and interest charges.
Direct Pay, available at Irs.gov, is the fastest, easiest way to make a one-time payment without signing into an IRS Online Account. Multiple other options also are detailed on the IRS website.