I paid for IRS Tax approximate using my turbo tax to IRS. The amount of $8900 was taken from my checking account. The description of the withdrawal on my bank account shows USATAXPYMT. How do I find out what happened to my payment?
I probably don't know how to check but in IRS account there is no record of my payment. I see a letter posted in my account by IRA that says my tax return was not filed on time.
On April 19th, I received an email from Intuit that extension was approved.
Just for others seeing this thread in the future ... TT makes no tax payments to anyone for any reason at anytime.
If you set up the debit or CC payment when filing the federal return this was done thru a third party provider which is why "USATAXPYMT" is the name on your bank/CC statement. After the return was filed and accepted for processing the payment is activated by the processing bank.
A few other things to consider too.
1. If your state taxes personal income, is the letter from your state and not the IRS? Maybe you paid your federal estimate of taxes to the IRS, yet failed to pay the state or vice-versa.
2. Did the transaction actually go through? If there was insufficient funds on the date of the attempted ACH withdrawal by the taxing authority, the attempt may show up on the bank statement, yet show that it was rejected by the bank/credit union. Typically, the next line on the statement would show a charge for "insufficient funds" or something of the such if your bank/credit union charges a fee for that.
3. Check the bank statement again to see if maybe the withdrawal was "returned" at a later date. I've never seen it, but I've heard of it happening for various reasons I've never understood.
if you paid with request for extension of time, then that credit goes on your tax return.
Your statement of account should be notated as such.
Then, see Form 1040 Line 31 from Schedule 3 Line 10.