How do I pay the balance due on Form 941 to the IRS?
4.1k views |Last modified 10/15/2024 12:01:19 AM EST | Added by TaxBandits Team

The balance due is the amount you owe to the IRS after reconciling your tax liabilities and deposits for the quarter. You can pay the balance due on Form 941 through TaxBandits using the following methods:

1. Electronic Funds Withdrawal (EFW)
2. Credit/Debit Card
3. Electronic Federal Tax Payment System (EFTPS)
4. Check or Money Order

• Electronic Funds Withdrawal 
  If your balance due is less than $2,500, you can use the Electronic Funds Withdrawal (EFW) payment method. If your balance due meets this criterion, provide your bank details including your Account number and Routing number. The payment will be processed within 24 to 48 hours from the filing date. If the debit date falls on a weekend or holiday, the amount will be withdrawn on the next business day.
   

• Credit/Debit Card Payment
  You have two options to make payments using a credit or debit card. One option is a quick and easy method for making payments, and the other is the IRS payment method.
  
  You can make payments directly within your TaxBandits account. 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. With this method, your Form 941 information will be saved from previous filings and automatically filled in when you make the payment. This streamlines the process, saving you time and improving accuracy by eliminating the need to re-enter your information manually.
  
  Unlike other payment methods that can take time to process, ACI Payments is faster and provides instant payment to ensure your payments are processed promptly. You can also track your payment status directly from your TaxBandits dashboard.
  
  You can also choose to make the payment using a credit or debit card with IRS. 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. To pay your balance with the IRS, visit this page.
   

• Electronic Federal Tax Payment System (EFTPS)
  EFTPS is a free service provided by the U.S. Department of the Treasury for paying federal taxes. If you choose to use EFTPS, you are responsible for sending the payment to the IRS through your EFTPS account after filing your return. To make your balance payment via EFTPS, visit this page. 
  
  Payments made using the EFTPS must be scheduled by 8:00 P.M. EST the day before the deadline to be received on time by the IRS. Funds will be transferred from your bank account on the date you select for your payment. 
   

• Check or Money Order
  To pay by check or money order, download and print the payment voucher Form 941-V and Form 941 from the Print Center. Make your check or money order payable to “United States Treasury." Do not staple or paperclip the check and documents together. 
   

Mail the voucher, check or money order, and the completed Form 941 to the U.S. Treasury at the address specified on the instruction page. Note that the mailing address for Form 941 varies depending on your state.