If I owe money on my tax return, do I have to pay it immediately?

If you owe money, we will still e-file your return on the day you come in, but you have until April 15th to make your payment. There are several ways you can make payment:

  • You can have the amount due withdrawn directly from your bank account on the date you choose (on or before April 15th). This is the easiest, but you must make sure that the full amount due is available in your bank account when it will be withdrawn. Otherwise, you will be charged by both the IRS and your bank for insufficient funds.
  • You can mail in your payment. If you choose this, the VITA site will provide you with payment vouchers that you must include when you mail in your payment. These vouchers make sure that your payment is credited to the correct return. Don’t forget to have your payment postmarked by April 15th, or you will incur late payment fees and interest.
  • You can make payment by a credit or debit card, either by phone or over the internet. Note that there is generally a fee for paying by debit or credit card. This is a small fixed fee if using a debit card. If paying by credit card, the fee will be a percentage of the total tax due. See the IRS website for more information on credit and debit card payments.
  • If you cannot pay the full amount by the due date, you can set up an installment payment plan with the IRS. This is generally an expensive option, as there is a setup fee, possibly late payment penalties, and you will also be charged interest on the amount that is past due.