How to Pay Your Form 941 Balance Due with TaxBandits
Handling your taxes can sometimes be confusing, especially when it comes to paying what you owe while filing Form 941. Whether you have an outstanding balance or not, it’s important to understand the various payment options available within TaxBandits.
What is 941 Balance Due?
The balance due is the amount you owe to the IRS after reconciling your tax liabilities and deposits for the quarter.
How to Pay 941 Balance Tax Due Online with TaxBandits?
In this guide, we’ll explain the payment options available to help you take care of your IRS balance easily and on time.
You can pay the balance due on Form 941 through TaxBandits using the following methods:
- Credit/Debit Card
- Electronic Federal Tax Payment System (EFTPS)
- Check or Money Order
- Electronic Funds Withdrawal (EFW)
Credit/Debit Card Payment
Credit/Debit card payments can be made directly within your TaxBandits account after the IRS has accepted your return. We are partnered with ACI Payments, Inc., – a leading payment provider that ensures your payments are processed promptly with their fast and instant payment services.
How to pay with Credit/Debit card:
- Sign in to your TaxBandits account.
- Navigate to the “E-Filed Forms” section on your 94x dashboard.
- Click “Pay Now” next to the accepted form for which you want to make a payment.
- If you have already filed, your card details will be saved from previous filings and automatically filled in when you make the payment. If you are a new filer, enter your card details and follow the steps to complete the payment.
Note: TaxBandits provides ACI Payments for balances due of $2,500 or less. If your balance due exceeds $2,500, visit the IRS payment page to complete your payment. Please note that you will be responsible for paying the balance due through this method, and a convenience fee will be charged by the credit card processor.
Electronic Federal Tax Payment System (EFTPS)
EFTPS is a free service the U.S. Department of the Treasury provides for paying federal taxes. If you already have an account with EFTPS.gov, you can make your payment right after filing. If you need to create an account, note that it takes about 15 business days to complete the setup.
For your payment to be processed on time, schedule it by 8:00 PM EST the day before the deadline. The funds will be withdrawn from your bank account on the payment date you specify.
If you miss the 8:00 PM EST scheduling deadline, you can still make a payment using the Same-Day Taxpayer Worksheet from the IRS. Complete the worksheet and take it to a financial institution to process your payment.
Check or Money Order
To pay by check or money order, follow these steps:
- Download and print Form 941-V and Form 941 from the Print Center.
- Make the check or money order payable to “United States Treasury.”
- Include your EIN, Form 941, and the tax period on the check or money order.
- Print and enclose the payment voucher Form 941-V.
- Avoid stapling or paper-clipping the check to the forms.
Mail the payment voucher, check or money order, and your completed Form 941 to the U.S. Treasury at the address to the following:
Note that the mailing address for Form 941 varies depending on your state.
| If you are from the following states: | Mail return without payment | Mail return with payment |
| Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin | Department of the TreasuryInternal Revenue ServiceKansas City, MO 64999-0005 | Internal Revenue ServicePO Box 806532Cincinnati, OH 45280-6532 |
| Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming | Department of the TreasuryInternal Revenue ServiceOgden, UT 84201-0005 | Internal Revenue ServiceP.O. Box 932100Louisville, KY 40293-2100 |
| No legal residence or principal place of business in any state: | Internal Revenue ServicePO Box 409101Ogden, UT 84409 | Internal Revenue ServiceP.O. Box 932100Louisville, KY 40293-2100 |
| Special filing address for exempt organizations; governmental entities; and Indian tribal governmental entities; regardless of location | Department of the TreasuryInternal Revenue ServiceOgden, UT 84201-0005 | Internal Revenue ServiceP.O. Box 932100Louisville, KY 40293-2100 |
Electronic Funds Withdrawal (EFW)
If your balance due is less than $2,500, you can opt for Electronic Funds Withdrawal (EFW). If your balance due meets this criterion, provide your bank details, including:
- Account Type
- Account Number
- Routing Number
- Daytime Phone Number
The payment will be processed within 24 to 48 hours of your filing date. If your payment date falls on a weekend or holiday, the withdrawal will occur on the next business day.
For information on completing Form 941, click here!
Paying your Form 941 balance doesn’t have to be difficult. With options like Electronic Funds Withdrawal, credit/debit card, EFTPS, or check, TaxBandits makes it easy for you to choose the best way to settle your taxes. Pick the option that works for you and make sure your payment is done on time.
Have a specific request for other business types, forms, or features? Let us know in the comments, and we’ll cover it in a future blog!
Ready to create your free TaxBandits account and get started?
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