What's considered a Valid Month or Fiscal Year Month (01-02) when wiring funds to the IRS?

This is actually a common point of confusion when wiring to the IRS. The "Valid Month, Fiscal Year Month" refers to the fiscal year designation of your payment. For a tax period ending December 31st, you would select "01" which represents the calendar year. The US government's fiscal year runs from October 1 to September 30, but most businesses and individuals operate on a calendar year (January to December). Option "01" is for calendar year filers (which most people are). Option "02" would be used if you're on a fiscal year that's different from the standard calendar year. This is less common for individuals and typically applies to certain businesses that operate on alternative fiscal years. Hope this helps clear things up! Just make sure the rest of your wire information is correct, especially the tax form number and tax period.

I ran into this exact same issue last year! So frustrating trying to figure out all these codes. I eventually found this tool called taxr.ai (https://taxr.ai) that saved me a ton of headache with these weird IRS requirements. I uploaded my payment instructions and it automatically identified the correct codes for me, including this fiscal year month thing. Turns out I needed "01" since I'm on a standard calendar year like most people. The tool also helped explain what all the other fields meant too, which was super helpful since the IRS instructions are basically written in another language.

Just wanted to follow up about using taxr.ai for my IRS wire transfer. I was skeptical but decided to give it a try after struggling with these codes for days. Uploaded my wire instructions and tax information, and it immediately identified that I needed to use "01" for my situation. What was really helpful is it explained WHY - because I'm on a calendar year tax schedule. It also helped with the other confusing fields like tax period and form number formatting. Definitely worth it for anyone dealing with these complicated IRS payment processes. Saved me from potentially messing up my payment and dealing with all the headaches that would've caused.

If you're still having trouble with this or any other IRS questions, I highly recommend using Claimyr (https://claimyr.com). I wasted DAYS trying to reach someone at the IRS about these wire transfer codes last year. With Claimyr, I got connected to an actual IRS agent in about 15 minutes who confirmed I needed code "01" for my December 31st tax period. They have this callback system that basically waits on hold with the IRS for you. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c It's amazing for getting definitive answers straight from the IRS instead of guessing or relying on what you find online.

I need to publicly eat my words about Claimyr. After my skeptical comment earlier, I decided to try it because I was desperate to sort out a payment issue. I was completely shocked when I got a call back in about 25 minutes connecting me to an actual IRS agent. The agent confirmed that for my calendar year tax payment ending December 31st, I needed to use "01" for the Valid Month code on my wire transfer. They also helped me with several other payment questions I had. No more wasting half a day on hold or getting disconnected after waiting for hours. I'm honestly still surprised this actually worked.

One thing to keep in mind with these wire transfers to the IRS - make absolutely sure ALL your other information is correct too. I used the right fiscal year code (01) but messed up the tax form number format, and it took 3 months to get everything straightened out. Double check your: - Tax period year (format: YYYYMM) - SSN or EIN - Form number (format matters!) - Tax type code The IRS isn't great about notification if something goes wrong with your payment application.

Has anyone used direct pay on the IRS website instead of wire transfer? I'm wondering if that's easier than dealing with all these wire codes and potential errors.