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News EssentialsThe Newsroom TopicsIRS Resources | Issue Number: IR-2024-71Inside This IssueTax Time Guide: 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. This is the last in a four-part series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. As taxpayers approach the April 15 deadline, those who owe taxes can benefit from knowing their options. 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. IRS Online Account 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:
Taxpayers can also use their Online Account to securely make a same-day 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. Other electronic options Direct Pay, available at IRS.gov, is the fastest, easiest way to make a one-time payment without signing into an IRS Online Account.
Other payment options
Help for taxpayers who cannot pay in full The IRS encourages taxpayers who cannot pay in full to pay what they can and consider a variety of payment options available for the remaining balance including getting a loan to pay the amount due. In many cases, loan costs may be lower than the combination of interest and penalties that the IRS must charge under federal law. Taxpayers should act as quickly as possible and are urged not to wait to respond to a notice: Tax bills accumulate more interest and fees the longer they remain unpaid. For all payment options, visit IRS.gov/payments. Online self-service payment plans Most individual taxpayers qualify for a payment plan and can use Online Payment Agreement to set up a payment plan (including an installment agreement) to pay off an outstanding balance over time. Once the online application is complete, the taxpayer receives immediate notification of whether their payment plan has been approved. Taxpayers can setup a plan using the Online Payment Agreement in a matter of minutes. There's no paperwork and no need to call, write or visit the IRS. Setup fees may apply for some types of plans. Online payment plan options for individual taxpayers include:
Qualified taxpayers with existing payment plans may be able to use the Online Payment Agreement to make changes including revising payment dates, payment amounts or bank information for payments made by direct debit. Go to Online Payment Agreementfor more information. Though interest and late-payment penalties continue to accrue on any unpaid taxes after April 15, the failure to pay tax penalty rate is cut in half while an installment agreement is in effect. Find more information about the costs of payment plans on the IRS' Additional Information on Payment Plans webpage. Other payment options Taxpayers struggling to meet their tax obligation may also consider these additional payment options:
For more information about payments, see Topic No. 202, Tax Payment Options, on IRS.gov. Taxpayer rights The IRS reminds taxpayers that they have rights and protections throughout the collection process. For details, see Taxpayer Bill of Rights and Publication 1, Your Rights as a Taxpayer. Taxpayers should know before they owe. The IRS encourages all taxpayers to check their withholdings with the IRS Tax Withholding Estimator. This information is part of a series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. Additional help is available in Publication 17, Your Federal Income Tax.
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