Not enough available funds

Forum|Forum|4 years ago
April 15, 2022
3 replies
25 views

I did not have enough money in my bank account yesterday to pay my taxes. Will TurboTax automatically try to deduct from my bank account today now that I have enough money? Or will I have to pay manually now. I just don’t want to pay twice somehow by accident

Not A Product Question

xmasbaby0

Level 15

TurboTax does not deduct your tax. Your payment is not going to TurboTax. You are paying the IRS. It will be the IRS that makes the attempt to debit your account. And we do not know when you filed your tax return. Did you specify a date for the IRS to take out your payment? If you did not specify a date they will debit your account on tax deadline day--April 18. Or maybe a day or two later if they are too backlogged.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

JunofloAuthor

Level 2

Hello, I filed about a month ago and the date I chose to pay my taxes was yesterday 4/14. Since I did not have enough funds available yesterday, do you know if they will attempt to get the funds again by tax day automatically, or shall I pay manually via their website?

Thanks

ChondelLO

Level 12

Per https://www.irs.gov/payments/pay-taxes-by-electronic-funds-withdrawal

If a payment is returned by your financial institution (e.g., due to insufficient funds, incorrect account information, closed account, etc.) the IRS will mail a Letter 4870 to the address we have on file for you, explaining why the payment could not be processed, and providing alternate payment options.
In the event your financial institution is unable to process your payment request, you will be responsible for making other payment arrangements, and for any penalties and interest incurred.

@Junoflo

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