If you mail your payment and it is postmarked by the due date, the date of the U.S. postmark is considered the date of payment. If your payment is late or you did not pay enough, you may be charged a penalty for underpaying.
If you are paying an estimated payment based on your prior year total tax, you are paying a “safe harbor” estimate. This safe harbor estimate allows you to have significant increases in income and will not incur a penalty if all your estimates are paid on time. If you are not paying an estimate based on your prior year tax and if you need to change your estimated tax payment we are available to assist you or you may call your tax preparer for assistance.
There are several methods to pay your estimated income tax:
- Pay by check using the US mail. Be sure to enclose the estimated payment voucher with your check and write your social security number on your check and note that it is for the 3rd quarter of 2014 taxes. The IRS prefers you to not staple your check to the voucher. The mailing address for Minnesota residents is:
- Internal Revenue Service
- P.O. Box 802502
- Cincinnati, Ohio 45280-2502
- Pay online at www.irs.gov/e-pay. You can pay using either of the following electronic payment methods:
- Direct transfer from your bank account
- Credit or debit card
- Pay by phone: for the latest details on how to pay by phone, go to www.irs.gov/e-pay
- To pay by phone by direct transfer from your bank account call EFTPS Customer Service at 1-800-555-4477
- When paying by phone using a debit or credit card the IRS charges a “convenience” fee which varies by provider, card type and payment amount. The providers to call for paying by debit or credit card are: