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Level 2
posted Apr 15, 2022 1:22:59 PM

Not enough available funds

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 

0 3 1433
3 Replies
Level 15
Apr 15, 2022 3:06:01 PM

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.

Level 2
Apr 15, 2022 3:19:22 PM

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

Intuit Alumni
Apr 16, 2022 1:27:38 PM

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