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hbnole
New Member

How can I find out if we paid our first $300 for the IRS installment plan?

How can I find out when/if a debit is scheduled to pay our first installment payment? I don't see it on our TurboTax PDF, just a voucher.
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AmyT
New Member

How can I find out if we paid our first $300 for the IRS installment plan?

It can take the IRS up to three months to process an installment agreement application.  You will receive a letter from the IRS once your payment plan has been accepted, and your direct debits will begin after that.  

While you are not required to do so, you are able to begin sending payments before you receive the letter.  If you do so, make sure that your check has your social security number and the tax year to which the payments should be applied.  It would also be a good idea to include a short note indicating that you are making a payment toward your 2016 (or applicable year's) balance.

Note:  You should pay as much of the outstanding balance as you are able to (even if it is not the full amount) before April 18, 2017, to reduce the amount of interest and penalties that will be applied to your account.  You will be assessed an underpayment penalty for any amount of unpaid tax, which will be assessed based on the balance due as of April 18.  Additionally, the IRS will begin to assess interest on the unpaid balance then.

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2 Replies
hbnole
New Member

How can I find out if we paid our first $300 for the IRS installment plan?

I also found instructions elsewhere in case others have this same question:

To check the IRS or state payment date selected in TurboTax:
1.     Sign In to TurboTax
2.     Select "Taxes"
3.     Click "My Tax Timeline"
4.     Choose "Some things You can Do"
5.     Select "Download all forms and worksheets"
6.     Review Part V of the Federal Information Worksheet for payment and banking information.
7.     Review State Information Worksheet for payment and banking information.

** If the election checkboxes are marked "NO" and OR your banking information is not displayed on the Information Worksheet, then the direct debit was not successful. To setup payments for federal and state taxes, use the links in this answer.
If you have not set-up your payment through TurboTax, visit  <a rel="nofollow" target="_blank" href="http://www.irs.gov/Payments">www.irs.gov/Payments</a>  and choose from the payment options available.
AmyT
New Member

How can I find out if we paid our first $300 for the IRS installment plan?

It can take the IRS up to three months to process an installment agreement application.  You will receive a letter from the IRS once your payment plan has been accepted, and your direct debits will begin after that.  

While you are not required to do so, you are able to begin sending payments before you receive the letter.  If you do so, make sure that your check has your social security number and the tax year to which the payments should be applied.  It would also be a good idea to include a short note indicating that you are making a payment toward your 2016 (or applicable year's) balance.

Note:  You should pay as much of the outstanding balance as you are able to (even if it is not the full amount) before April 18, 2017, to reduce the amount of interest and penalties that will be applied to your account.  You will be assessed an underpayment penalty for any amount of unpaid tax, which will be assessed based on the balance due as of April 18.  Additionally, the IRS will begin to assess interest on the unpaid balance then.

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