Owe Money to the IRS? There are options

 

Payment Deadline extended due to Coronavirus Pandemic

The IRS has extended the deadlines for payment from 4/15 to 7/15. If you cannot afford to make your tax payments by 4/15, you can defer the payment until 7/15 without penalty or interest. Any tax due not paid by 7/16 will be subject to penalty and interest.

 

This applies to both Federal Income Tax and Federal Estimated Tax payments due on 4/15/20. It applies to both Businesses and Individuals.

 

Estimated payments due on 6/15 have not been extended to 7/15 as of today's date (3/25/20)

 

What if I already filed?

If your return has already been filed, you may cancel the pending payment using the below methods.

 

PLESE NOTE: NYS (and other states) has not issued guidance on this issue as of yet, we will keep you posted

 

Below are some guidelines from the IRS website:

 

https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers

 

Payment will not be automatically rescheduled to July 15. If you do nothing, the payment will be made on the date you chose. Here is information on how to cancel and reschedule your payment:

  • If you scheduled a payment through IRS Direct Pay, you can use your confirmation number from the payment to access the Look Up a Payment feature. You can modify or cancel a scheduled payment until two business days before the payment date. The email notification you received when you scheduled the payment will contain the confirmation number.
     
  • If you scheduled a payment through Electronic Federal Tax Payment System (EFTPS), click on Payments from the EFTPS home page, login, then click Cancel a Tax Payment from the left menu and follow the instructions. You must do so at least two business days before the scheduled payment date.
     
  • If you scheduled a payment as part of filing your tax return (authorizing an electronic funds withdrawal), you may revoke (cancel) your payment by contacting the U.S. Treasury Financial Agent at 888-353-4537. You must call to make a payment cancellation request no later than 11:59 p.m. ET two business days prior to the scheduled payment date.
     
  • If you scheduled a payment by credit card or debit card, contact the card processor to cancel the card payment