Form 1040-V (2021)

What Is Form 1040 V 2021

Form 1040-V is an IRS payment voucher used by taxpayers to submit payment of their outstanding tax balance. You send a statement with a check or money order for any balance due on the "Amount you owe" line of your Form 1040, 1040-SR, or 1040-NR. This form provides the IRS with the necessary information to correctly associate the payment with the taxpayer's account. Although it may seem like a simple slip of paper, it ensures that your payment is processed promptly and accurately, minimizing the potential for errors in your account standings.

When to Use IRS Form 1040 V 2021

There are specific scenarios where taxpayers should utilize the IRS Form 1040-V when making their tax payments:

• Those with a balance due on their tax return (Form 1040 or its variants) are not paying electronically.
• Individuals who opted to mail their payment after completing their return electronically didn't schedule an electronic payment.
• Taxpayers must make additional payments toward their balance due after submitting their tax return. Utilizing this voucher during these situations is essential to maintain orderly records with the IRS and properly apply your funds.

How To Fill Out Form 1040 V For 2021

Filling out Form 1040-V is straightforward but must be done correctly to avoid processing issues. Follow this step-by-step guide to complete your voucher:

• Write your social security number or your taxpayer identification number on the form. If you are filing a joint return, enter the SSN shown first on your return.
• Provide your complete legal name, along with your spouse's name if filing jointly, exactly as it appears on your tax return.
• Enter your mailing address, including the city, state, and ZIP code.
• Specify the amount you are paying with this voucher.
• When sending a check or money order with Form 1040-V, make it payable to the "United States Treasury." Include your SSN, tax year, and form number on the payment to ensure proper posting to your account.

Where To File Form 1040 V 2021

The mailing address for Form 1040-V can vary depending on your state and whether you are including a payment. To find the correct address:

• Determine if you are including payment. Different addresses are used for payments versus submissions without payments.
• Use the provided IRS envelope if you received one with your tax bill. Otherwise, use a standard envelope and ensure the proper postage is included.

Ensure your Form 1040-V and accompanying payment are mailed by the tax deadline (usually April 15th for the tax year). If the deadline falls on a weekend or a holiday, the due date may be extended to the next business day. Remember that interest and penalties may apply if you are paying after the deadline.