Don’t wait for the due date: taxpayers can schedule estimated and other tax payments in advance

 

March 4, 2020

Taxpayers can pay their 2020 estimated taxes electronically anytime, before the end of the tax year. Most taxpayers make estimated tax payments in equal amounts by the four established due dates. IRS provides two free electronic payment options, where taxpayers can schedule their estimated and other federal tax payments up to 30 days in advance, with Direct Pay or up to 365 days in advance, with the Electronic Federal Tax Payment System (EFTPS).

IRS Form 1040-ES, Estimated Tax for Individuals, includes instructions to help taxpayers' figure and pay their estimated taxes. They can also visit IRS.gov/payments to explore options to pay online, by phone or with their mobile device and the IRS2Go app.

Direct Pay and EFTPS are both free payments options, and taxpayers can schedule their payments in advance and opt in to receive email notifications about the payment.

IRS Direct Pay allows individual taxpayers to pay from their bank account for free. There's no need to register ahead of time, payments are made online in five easy steps. Taxpayers can schedule their estimated and other individual tax payments, up to 30 days in advance. They may opt in to receive email notifications about their payment each time they schedule a payment with Direct Pay.

The Electronic Federal Tax Payment System (EFTPS) allows individual and business taxpayers to pay their federal taxes electronically online, or by phone using the EFTPS Voice Response System. They must be enrolled to use EFTPS. Taxpayers can enroll online at www.eftps.gov and will receive their personal identification number (PIN) via U.S. Mail in five to seven business days.

Through the EFTPS, taxpayers can schedule their tax payments up to 365 days in advance. Now is a good time to schedule the four 2020 estimated tax payments for individuals. Taxpayers can easily keep track of these payments by opting in for email notifications when they enroll or update their enrollment for EFTPS.

The IRS continues to remind taxpayers to watch out for email schemes. You will only receive an email from Direct Pay or EFTPS if you've requested the service.

Whether they have tax withholding, make estimated tax payments or some combination of the two, the IRS encourages everyone to use the IRS Withholding Calculator to perform a quick "paycheck checkup", and to visit IRS.gov/payments to pay electronically anytime.