IRS Payment Plan

[jalexander8162]

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

[DoninGA]

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?

[jalexander8162]

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.

[jalexander8162]

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

[DoninGA]

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@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.

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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.

[jalexander8162]

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