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IRS Extension Payment Instructions
IRS Extension Payment Instructions

First Date Etiquette with the IRS

Updated over a week ago

All payments should be made through your personal bank account and not your business. This is because your S-Corp business is a flow through entity, and so all the profits ‘flow through’ to you personally. If you need funds from your business account to cover this payment, please transfer the amount needed from your business account to your personal account first and categorize it as a ‘shareholder distribution’ in QuickBooks.

  1. Make your Federal extension payment here

  2. Reason for Payment select “Extension”

  3. Apply Payment to “Form 4868" will auto populate

  4. Click “Continue” then a window will appear to verify your selection then select “Continue”

  5. Tax Year for Verification, enter the last tax return year the IRS has on file. Please note: This is not the payment year and if you recently filed your tax return then select the year before as the IRS may not have the most recent return on file yet

  6. Enter the filing status you filed for that tax year

  7. Enter your name, social security number, date of birth, and address that matches the tax year you selected for verification

  8. Check the box for “I accept the Privacy Act and Paperwork Reduction Act.” then select “Continue”

  9. Enter your payment amount and payment date

  10. Enter your bank information and type of account

  11. Check the box for “I would like to receive email confirmation notification and agree to the Email Terms of Service.” then enter your email address and select “Continue”

  12. Review that the information is accurate then select “Submit”

  13. Final step is to send us a copy that includes the amount paid to your Collective dashboard so that we can save the information in your file. Below is a redacted version of the document we would like to receive:

Disclaimer: The information contained in this document is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.

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