topic IRS Payment Plan in Get your taxes done using TurboTax

IRS Payment Plan

jalexander8162 — Sun, 09 Feb 2025 15:03:18 GMT

I just setup a payment plan with the IRS but when I filed my return electronically I was asked how I would like to pay through Turbo tax and I selected the entire balance on April 15th, I just want to be sure that the IRS will not withdraw the entire amount now that I have setup a payment plan with direct debit, Thanks

Re: IRS Payment Plan

DoninGA — Sun, 09 Feb 2025 15:06:40 GMT

If you selected to pay the taxes owed by mailing a check, then nothing will be debited from your account.

Or did you select some other form of payment?

Re: IRS Payment Plan

jalexander8162 — Sun, 09 Feb 2025 15:09:39 GMT

No I selected auto debit using my bank account, and hope that they will not draft the entire balance due on April 15th, My plan is to have the debit paid off within 10 months.

Re: IRS Payment Plan

jalexander8162 — Sun, 09 Feb 2025 15:11:11 GMT

I already have been approved the payment plan I guess just waiting on paper confirmation and when the payments will start

Re: IRS Payment Plan

DoninGA — Sun, 09 Feb 2025 15:16:05 GMT

@jalexander8162 wrote:

No I selected auto debit using my bank account, and hope that they will not draft the entire balance due on April 15th, My plan is to have the debit paid off within 10 months.

Yes, the IRS will probably debit your account for the entire balance. You need to contact the IRS to cancel the payment.

IRS website for information - https://www.irs.gov/payments/pay-taxes-by-electronic-funds-withdrawal

Call IRS e-file Payment Services 24/7 at 888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your return was accepted before calling.
Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date.

Re: IRS Payment Plan

jalexander8162 — Sun, 09 Feb 2025 15:20:45 GMT

Okay and thank you very much for the info, This is what I was thinking I would need to do.