What options are available to pay taxes while e-filing Form 7004 with ExpressExtension?
2.7k views | Last modified 3/25/2024 10:44:52 AM EST | Added by ExpressExtension Team

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If you owe tax to the IRS, there are two ways through which you can pay your tax due to the IRS while e-filing extension form 7004 in Express Extension:

  1. Electronic Funds Withdrawal (EFW)
  2. Electronic Federal Tax Payment System (EFTPS)

Electronic Funds Withdrawal (EFW)

This is an integrated e-file/e-pay option offered only if you’re filing your federal taxes using tax preparation software or a tax professional. 

If you choose to make your tax payment using the EFW method in ExpressExtension, you will need to provide your bank information, such as account type, account number, routing number, etc., which the IRS will use to initiate an electronic funds withdrawal (direct debit) from your account. 

It's important to note that the Payment Request Date will default to the date you file your extension Form, which is when the actual debit will occur. So, to avoid IRS penalties, ensure that you have sufficient funds in your account on that date.

Electronic Federal Tax Payment System (EFTPS)

This is the free payment system offered by the U.S. Department of Treasury to pay your federal taxes.

If you choose to pay your tax through EFTPS, you are solely responsible for paying your tax due on time.  To pay the tax due, please visit www.EFTPS.gov and schedule your payment. Payments should be scheduled at least one business day (before 8 PM) before the due date.

Note: You must have an account with EFTPS.GOV to pay the taxes. If you do not have an account, it will take about 15 business days to set one up. 

You can choose to Pay your Tax Dues by either method while Filing with ExpressExtension!

So, if you’re looking to pay the tax dues when electronically filing the extension Form 7004, choose ExpressExtension. With ExpressExtension, you can pay the tax amount while e-filing your extension Form 7004 in a few clicks.

For more information on how to e-file Form 7004 with Expressextension, click here.

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