WANT TO CHANGE UNDERPAYMENT TAX BILL PAYMENT FROM LUMP SUM TO QUARTERLY BUT RETURN ALREADY ACCEPTED. IS IT POSSIBLE?

[kayla_official]

I owed taxes for the 2024 year and chose the TurboTax option to schedule a one-time lump sum payment by April 15th. My return was e-filed and accepted and the payment is set to come out April 7th. I now want to make 4 quarterly payments instead of one lump sum to split it up. Am I able to change this? Where do I go to change it? Do I have to amend my tax return to change it? Please help!

[LindaS5247 · Accepted solution]

No, you will not be able to change it as your return has already been filed and accepted.  

Also, TurboTax does not offer quarterly payments for amounts owed on your income tax return. It sounds like you set up for your tax due to be deducted from your bank account on April 7 and now you want to change it.  

You can contact the IRS to see if they can stop the April 7 payment and maybe even get on an installment plan.

You can call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday.

If you have already filed your taxes, you will have to set up installment payments directly with the IRS.  You can apply for a payment plan (Form 9465) at the IRS Payment Plans and Installment Agreements website.

Click here to Apply online for a payment plan

Your specific tax situation determines which payment options are available to you. Payment options include full payment, a short-term payment plan or a long-term payment plan

The IRS does charge a user fee for setting up or reinstating an installment agreement.

Click here for Additional information on payment plans

Click here for Can I set up a payment plan for my taxes?

Click here for Form 9465.

Click here for Instructions to Form 9648