I plan to submit my taxes via Turbo Tax e-file tomorrow (Saturday). It seems that my funds transferred from my Vanguard account would be deposited in my bank only on Monday or Tuesday. Wondering if IRS would withdraw tomorrow (Saturday) as soon as I e-file or if there is time until the funds get deposited. Thank you.
So you have not even e-filed yet? You cannot realistically expect the IRS to withdraw funds from your account within moments after you e-file. It could take a day or more for your e-file to be accepted. Since you have not yet e-filed and seem worried that 3-29 is too soon, change the direct debit date to a later date that you are comfortable with.
Unless you specify a date for the direct debit to pay your tax due, the date defaults to the filing deadline of April 15, 2025.
Thank you so much! Please confirm if the funds be withdrawn only on April 15th even if I specified tomorrow 3/29 as the payment date for Underpayment penalty. Changing to earlier date helped reduce the penalty a bit, but I can change that date to Monday if there is a chance that IRS can withdraw tomorrow.
Also, wondering if IRS withdraws on a Saturday 🙂
Thanks again.
So you have not even e-filed yet? You cannot realistically expect the IRS to withdraw funds from your account within moments after you e-file. It could take a day or more for your e-file to be accepted. Since you have not yet e-filed and seem worried that 3-29 is too soon, change the direct debit date to a later date that you are comfortable with.