How to Pay Your Tax Due with Form 941

Paying your balance due is a breeze with TaxBandits!

One of the most critical parts of filing Form 941 is paying any tax due! Check out each of the payment methods listed below to figure out which one is best for you.

Electronic Funds Withdrawal (EFW):

If your balance due is less than $2500, you can use this method to pay the tax due to the IRS. Simply select ‘Electronic Funds Withdrawal (EFW)’ and enter the following information:

  • The type of account (checking or savings)
  • The US Bank Routing Number
  • The US Bank Account Number 
  • The taxpayer’s daytime phone number

Once you complete the filing process, the funds will be automatically withdrawn by the United States Treasury in 24-48 hours (1 or 2 business days). 

Note: The funds will not be withdrawn from your account if the form is rejected by the IRS.

Electronic Federal Tax Payment System (EFTPS):

If you already have an account with EFTPS.GOV, you can use this method to pay taxes due to the IRS after completing the filing process.  If you do not have an account with EFTPS.GOV, it will take about 15 business days to set one up.

Payments made using EFTPS or the voice response system must be scheduled by 8:00 p.m. EST the day prior to the deadline to be received on time by the IRS.

If extraordinary circumstances cause you to miss scheduling your EFTPS payment by 8:00 p.m. EST the day before your deadline, you can download the Same-Day Taxpayer Worksheet from the IRS, complete it, and take it to a financial institution. If you’re paying for more than one tax form or tax period, complete a separate worksheet for each payment.

Funds will transfer from your bank account on the date you select for your payment.

Note: This payment process cannot be completed in TaxBandits. If paying by EFTPS, you must go to EFTPS.GOV and complete the payment process separately.

Credit/Debit Card:

Option 1:

If you would like to pay the tax due by credit/debit card and your balance due to the IRS is less than $2500, select the ‘Credit Card’ option.

Once your form has been accepted by the IRS, you will receive an email from TaxBandits. You will then need to sign in to your TaxBandits account, click ‘Pay Now’, and complete the payment.

Note: This payment process can only be completed within the following dates for each quarter:

  • Q1, 2022: April 1st – June 30th, 2022
  • Q2, 2022: July 1st – September 30th, 2022
  • Q3, 2022: October 1st – December 31st, 2022
  • Q4, 2022: January 1st – March 31st, 2023

Option 2:

If you would like to pay the tax due to the IRS by credit/debit card and your balance due to the IRS is NOT less than $2500 OR you are making the payment AFTER the above dates, select the ‘Credit Card’ option.

Once you’ve completed the filing process, you will need to click here, select one of the payment processors, and complete the payment through your selected payment processor.

Note: This payment is not completed byTaxBandits. If paying by credit/debit card, you must complete the payment process separately by following the steps above.

Check or Money Order:

You can pay the balance due by Check or Money Order after you complete the filing process by following the steps below:

  • Make your check or money order payable to the “United States Treasury”
  • Write your EIN, Form 941, and the tax period on your check or money order
  • Print and Enclose the payment voucher Form 941-V (click ‘Download’ on this page in your TaxBandits account to download the voucher)
  • Do not staple
  • Mail the check or Money Order with voucher Form 941-V to the following address:

Internal Revenue Service

P.O. Box 932100

Louisville, KY 40293-2100

For information on filling out Form 941, click here!

Want to see steps for other business types, forms, or features? Comment below and we’ll make your request a future blog!

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