The Newnan Times-Herald

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July 15 income tax payment deadline looms


  • By The Newnan Times-Herald
  • |
  • Jun. 29, 2020 - 6:23 PM

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The July 15 tax filing and payment deadline is looming, and the U.S. Internal Revenue Service wants taxpayers and businesses to save the date.

Income tax payments will be due after being postponed from the traditional deadlines – April 15 and June 15 – to provide temporary tax relief in response to the COVID-19 pandemic.

Taxpayers who owe a 2019 income tax liability as well as estimated tax for 2020 must make two separate payments on or by July 15 – one for their 2019 income tax liability and one for their 2020 estimated tax payments. The two estimated tax payments can be combined into a single payment.

To pay electronically:

Individuals: Taxpayers can use Direct Pay for two payments each day. Direct Pay allows taxpayers to pay online directly from a checking or savings account for free and to schedule payments up to 365 days in advance. Confirmation of payments will be sent through email.

Taxpayers attempting to make at least three payments on the same day using Direct Pay will receive a warning of possible duplicate payment, and they will need to select override for those payments to continue.

Businesses: For businesses or those making large payments, the best payment option is the Electronic Federal Tax Payment System, which allows up to five payments per day. Enrollment is required.

Taxpayers can schedule payments up to 365 days in advance and opt-in to receive email notifications about their payments.

Paying by check, money order or cashier’s check:

2019 Tax Liability: If paying a 2019 income tax liability without an accompanying 2019 tax return, taxpayers paying by check, money order or cashier’s check should include Form 1040-V, Payment Voucher with the payment. Those paying when filing their 2019 income tax return should not staple or paperclip the payment to the return.

2020 Estimated Tax Payments: Taxpayers making their 2020 estimated tax payment by check, money order or cashier’s check should include the appropriate Form 1040 ES payment voucher. Indicate on the check memo line that this is a 2020 estimated tax payment.

Additional electronic payment options:

Taxpayers can pay when they file electronically using tax software online. If using a tax preparer, ask the preparer to make the tax payment through an electronic funds withdrawal from a bank account.

• Taxpayers can choose to pay with a credit card, debit card or digital wallet option through a payment processor. Processing fees apply. No part of the card service fee goes to the IRS.

The IRS2Go app provides mobile-friendly payment options, including Direct Pay and Payment Provider payments on mobile devices.

• Individuals and businesses preferring to pay in cash can do so at a participating retail store.

• For taxpayers paying separately from when they file their tax return, the more secure and quicker way to send a payment to the IRS is by going to www.IRS.gov/payments and choosing an electronic payment option to submit the payment. Taxpayers should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.

For more information, visit www.IRS.gov .