When does the IRS take payment for federal taxes if I opted to pay through Turbotax?

[josh-ellingwood]

I filed my taxes in early march, a month ago, and owed some federal taxes. I opted for bank draft to pay up, but the money still hasn't been withdrawn. I know I put in the correct bank info because my state return came back just fine. Does the IRS collect when taxes are due or is this something I need to pursue to make sure it's paid?

[CapB · Accepted solution]

If you set-up a payment for your income tax payment using TurboTax and you did not specify a payment date for the withdrawal, TurboTax's default payment date will be used (the last day of tax season = April 18th this year).

If your payment date has passed, but your tax payment has not been withdrawn yet, payment will not usually be not initiated until the return has been processed.  Most states don't begin processing state returns until after the federal return has completed processing (your payment is still considered timely, as long as submitted before April 18).

You can also call IRS e-file Payment Services anytime at 1-888-353-4537 to verify your payment.

Contact your state Department of Revenue:  https://ttlc.intuit.com/replies/3302452

OR

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 checkboxes are checked "NO" and 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  www.irs.gov/Payments  and choose from the payment options available.

[josh-ellingwood]

Thanks for the response, April 18th it is. On my return there are four separate 1040-ES payment vouchers that add up to a good deal more than I owe per line 78 for the federal portion with dates ranging from April 18th all the way to January of next year. I want to pay what I owe only, and all at once, but it looks like Turbotax has other plans. Am I correct to assume that Turbotax has set it up so I have to make payments throughout the year totaling more than I actually owe, and if so, how do I stop that process and pay lump sum?

[CapB]

No, Form 1040-ES (estimated tax payment vouchers) are not scheduled tax payments for 2016 taxes, they are a 2017 tax planning tool which may or may not apply (they are not a requirement, just a suggestion based upon the current return. See more here:  <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3301872">https://ttlc.intuit.com/replies/3301872</a>