The taxing authorities have delayed the due date for individual tax returns until May 17, 2021. But in many cases, this one-month extension did not give taxpayers or CPAs sufficient time to prepare the required returns. At this point, many taxpayers will need to file extensions for the returns that have not been completed. CPA Jo Funderburg has provided us with the helpful instruction below regarding making online estimated tax deposits.
If you file an extension, believe that you will owe taxes, and want to make deposits, you can make the payments online at the following sites:
For Federal Extension Payments: https://directpay.irs.gov. Select the “Make a Payment” blue button on this page. The “Reason for Payment” is “Extension;”Apply Payment To” is “4868 (for 1040, 1040A, 1040EZ);” and “Tax Period for Payment” is “2020.” Click “Continue.” You will need one piece of information from your last filed Federal return to verify your identity, and that is the “Filing Status” on your last filed return. Continue completing the required information.
For Ohio: https://www.tax.state.oh.us/IFILE/IFileRegWeb/login.jsp. You’ll need to “Register” first. This option is just below the “Log In” button in the middle to the right. Then you’ll be able to log in and make a payment. “Tax Type” will be “Individual Income Tax” or “School District Income Tax,” and the “Form Type” will be “40P Extension Payment”. Select your “Filing Status” and click “Continue.”
For RITA: https://eservices.ritaohio.com/IFILE/ELOGIN/Pages/CreateNewElogin.aspx.
You’ll need to create an account first; then, you can log in and make a payment.
If the online option isn’t for you, you can mail-in payments. It is recommended that you send any paper payments by certified mail and take pictures of what you are putting in the envelopes. Paper payments can be misplaced and perhaps not applied to the correct accounts. Some states and local taxing authorities cannot take electronic payments, so they may require the paper payment method.
If you have any questions about the extended tax deadlines or how to make online or paper tax deposits, please call or email Jo Funderburg CPA at 614-408-3730 or Jo@jmfcpallc.com.