What are the payment methods available to pay my underreported tax?

Last modified 4/24/2023 4:59:52 AM EST

If line 27 of Form 941-X shows an amount greater than $1, several payment methods are available to settle your underreported tax:

• Electronic Federal Tax Payment System (EFTPS): EFTPS is a service provided by the U.S. Department of the Treasury that allows you to make federal tax payments electronically. TaxBandits is integrated with EFTPS, allowing you to make your 941 tax payments right from your TaxBandits account. Click here to see how.
• Electronic Funds Withdrawal EFW: You can pay your tax liability using EFW, if your balance due is under $2,500.
• Credit or Debit Card: You can pay your Form 941 tax liability using a credit or debit card. The IRS accepts payments via Visa, MasterCard, American Express, and Discover.
• Check or Money Order: You may also mail a check or money order payable to the 'United States Treasury’ along with your completed Form 941. Be sure to include your name, address, and Employer Identification Number (EIN) on your payment.