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Category: IRS Payments

  • IRS Deadlines Filing Dates

    IRS Deadlines Filing Dates

    Important IRS Deadlines & Filing Dates You Shouldn’t Miss

    Missing an IRS tax deadline can result in penalties, interest, or even loss of tax benefits. Stay ahead by marking these key dates on your calendar.

    1. Federal Tax Filing Deadline

    📌 April 15, 2025 – Due date to file your 2024 federal tax return or request an extension.
    📌 If you owe taxes, payment is due April 15, 2025, even if you file an extension.

    🔗 Related: Tax Filing Shortcuts: The Easiest Ways to File

    2. Tax Extension Deadline

    📌 October 15, 2025 – If you requested an extension (Form 4868), this is your new filing deadline.
    📌 Late-filing penalties may apply if you fail to file by this date.

    🔗 Related: IRS Tax Filing Deadlines & Extensions

    3. Quarterly Estimated Tax Payment Deadlines (2025)

    If you’re self-employed, a freelancer, or have investment income, you may need to pay estimated taxes quarterly.

    📌 Q1 Payment: April 15, 2025
    📌 Q2 Payment: June 16, 2025
    📌 Q3 Payment: September 15, 2025
    📌 Q4 Payment: January 15, 2026

    🔗 Related: How 2025 Contributions to IRA & 401(k) Can Reduce 2024 Taxes

    4. IRA & 401(k) Contribution Deadlines for 2024 Tax Savings

    📌 April 15, 2025 – Last day to contribute to a Traditional IRA or Roth IRA for the 2024 tax year.
    📌 Employer 401(k) contributions must be made by December 31, 2024.
    📌 Self-employed SEP IRA and Solo 401(k) contributions can be made up to your tax filing deadline (including extensions).

    🔗 Related: Self-Employed Retirement Plans: SEP IRA, Solo 401(k), & More

    5. Other Key IRS Deadlines

    📌 June 17, 2025 – FBAR Filing Deadline for foreign bank accounts (FinCEN Form 114).
    📌 January 31, 2025 – Deadline for employers to send W-2 and 1099 forms.
    📌 May 17, 2025 – Deadline for tax-exempt organizations to file Form 990.

    🔗 Related: IRS Notices & Letters: What to Do If You Get One

    Final Thoughts

    Staying aware of important IRS deadlines can help you avoid penalties and maximize your tax benefits. Don’t wait until the last minute—file early and stay compliant.

    🚀 Next Steps:

      • Mark your calendar for the tax deadlines that apply to you.

      • File on time to avoid IRS late fees and penalties.

      • Make retirement contributions before the deadline to reduce your tax bill.

    🔗 Need more IRS updates? Visit our IRS Tax Updates & Alerts Hub.

  • Free Tax Filing Options

    Free Tax Filing Options

    Best Free & Affordable Tax Filing Options in 2025

    Filing taxes doesn’t have to be expensive. Whether you qualify for free filing or want the most affordable tax software, here’s a breakdown of the best ways to file your taxes for free or at a low cost.

    1. IRS Free File (For Incomes Under $73,000)

    The IRS partners with tax software companies to offer free federal tax filing for eligible taxpayers. If your adjusted gross income (AGI) is $73,000 or less, you can use IRS Free File.

    ✅ Available through providers like TurboTax, TaxAct, and H&R Block.
    ✅ Includes guided tax preparation.
    ✅ State tax filing may not be free.

    🔗 Learn more: Tax Filing Shortcuts

    2. Free File Fillable Forms (For Any Income Level)

    If you don’t qualify for IRS Free File, you can use Free File Fillable Forms, a digital version of IRS tax forms.

    ✅ Best for taxpayers comfortable preparing their own taxes.
    ✅ No income limit.
    ✅ No state tax preparation included.

    3. Free Tax Filing Software Options

    Many tax software companies offer free versions, but they often come with restrictions.

    SoftwareWho Qualifies for Free Filing?
    TurboTax Free EditionSimple tax returns (W-2 income, standard deduction)
    H&R Block Free OnlineW-2 income, unemployment, student loans
    TaxAct Free EditionBasic filers with AGI under $73,000
    Cash App Taxes100% free federal & state filing for most filers

    🔗 Read more: How to File Taxes for the First Time

    4. Free In-Person Tax Filing Help

    If you prefer in-person assistance, the IRS offers two free tax help programs:

    ✅ Volunteer Income Tax Assistance (VITA): For filers earning $60,000 or less.
    ✅ Tax Counseling for the Elderly (TCE): Specialized for seniors age 60+.

    🔗 Find a location near you: IRS Free Tax Help Locator

    5. Low-Cost Tax Filing Options

    If you don’t qualify for free filing, consider affordable tax software or professional services.

    ✅ TaxSlayer Classic – Starts at $19.95 for federal returns.
    ✅ FreeTaxUSA – Free federal filing; state filing costs $14.99.
    ✅ Jackson Hewitt Online – Flat fee $25 for all tax situations.

    Final Thoughts

    Before paying for tax prep, check if you qualify for free filing options. If you have complex taxes, consider low-cost tax software or in-person IRS programs.

    🚀 Next Steps:

    • Determine which free filing option fits your situation.
    • Compare tax software for the best price.
    • Get help from IRS-certified volunteers if needed.

    🔗 Need help? Visit our Tax Filing Shortcuts Guide.

  • IRS Payment Plans

    IRS Payment Plans

    Paying irs

    IRS Payment Plans: How to Pay Your Tax Debt Over Time

    If you owe taxes but can’t pay the full amount immediately, the IRS offers several payment plan options to help you settle your debt over time. Here’s everything you need to know about IRS installment agreements.

    What is an IRS Payment Plan?

    An IRS payment plan (also called an installment agreement) allows taxpayers to pay their tax debt in monthly installments rather than a lump sum. Depending on the amount owed, you may qualify for different types of plans.

    Types of IRS Payment Plans

    1. Short-Term Payment Plan (Up to 180 Days)

    ✅ No setup fee.
    ✅ Must pay the full balance within 180 days.
    ✅ Payments can be made via IRS Direct Pay, debit/credit card, or check.
    ✅ Apply online or by calling the IRS.

    2. Long-Term Payment Plan (More Than 180 Days)

    ✅ Requires a monthly installment agreement.
    ✅ Setup fees apply unless you qualify for a low-income waiver.
    ✅ Payments made via direct debit (recommended) or manually each month.
    ✅ Interest and penalties continue to accrue until the balance is paid.

    How to Apply for an IRS Payment Plan

    Online (Easiest & Fastest Method)

    By Phone or Mail

    • Call the IRS at 1-800-829-1040 to request a payment plan.
    • Complete Form 9465 (Installment Agreement Request) and mail it to the IRS.

    Eligibility for IRS Payment Plans

    • You owe $50,000 or less (individuals) or $25,000 or less (businesses) in taxes, interest, and penalties.
    • You have filed all required tax returns.
    • You agree to make monthly payments on time.

    🔗 Learn more about IRS Payment Plan Eligibility & Requirements.

    IRS Payment Plan Fees & Interest Rates

    Payment MethodSetup FeeInterest & Penalties
    Direct Debit (Auto Withdrawal)$31 (waived for low-income)Continues until paid
    Manual Payments$130Continues until paid
    Short-Term Plan (Under 180 Days)No feeContinues until paid

    What Happens If You Miss a Payment?

    🚨 If you miss a payment, your plan may be canceled, and the IRS may begin collection actions (liens, levies, garnishments). Always make payments on time or contact the IRS if you need adjustments.

    Other Options for Tax Debt Relief

    • Offer in Compromise (OIC): Settle for less than what you owe.
    • Currently Not Collectible (CNC): Delay collections if you’re in financial hardship.
    • Penalty Abatement: Request to remove certain IRS penalties.

    🔗 Need help settling your tax debt? Read our guide on How to Settle IRS Tax Debt.

    Final Thoughts

    If you owe the IRS, setting up a payment plan can help you avoid aggressive collection actions. Act now to get your tax debt under control.

    🚀 Ready to apply? Start with our Filing & Paying Back Taxes Guide.