When will I know?

Forum|Forum|5 years ago
March 29, 2021
1 reply
6 views

I owed over $35,000 in taxes in 2020. When I completed my taxes, I signed a form to allow the government to withdraw the entire amount out of my checking account. To date, there has been no activity. How long does this typically take or should I be concerned?

Not A Product Question

SweetieJean

Alumni - Champ

owed over $35,000 in taxes in 2020. Do you mean in 2020, but for 2019? Or for 2020? If the former, see this:

IRS Backlog: 2.4 Million 2019 Tax Returns Still In Pipeline (forbes.com)

$35,000? Or do you mean $3,500? Or $350? If you really owe $35,000 on a personal tax return, the IRS is likely to pull your filing for a manual review. In general, though, unless you indicated a specific date, the payment is pulled on the due date of the return. In either case, it can still take the government a few days to do this.

phillymikeAuthor

Level 2

I owed over $35 thousand in taxes for the tax year ending December 31, 2020. How do I know what day this is due, or is it the new due date that tax filings have been pushed back to?