TaxmannEA Posted April 30, 2013 Report Share Posted April 30, 2013 We have had 3 clients contact us in the last week that had requested direct debit to pay their balances due. As of now the IRS has not collected the money. We advised them to call IRS and the bank to check. I just wondered if this is a wide spread problem or if it is just us. Quote Link to comment Share on other sites More sharing options...
imjulier Posted April 30, 2013 Report Share Posted April 30, 2013 I only had a few clients who did this and I recommended it becasue they owed upwards of 20K....better than mailing around checks for that amount or incurring transaction fees. I haven't heard from any of them....I'll be interested to hear if there are any problems as well. Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted April 30, 2013 Report Share Posted April 30, 2013 We have had 3 clients contact us in the last week that had requested direct debit to pay their balances due. As of now the IRS has not collected the money. We advised them to call IRS and the bank to check. I just wondered if this is a wide spread problem or if it is just us. What date was used for the direct deposit? If it was any date after April 15th they won't pull it out. It has to be on or before April 15th. Deb! Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 1, 2013 Report Share Posted May 1, 2013 I submitted a 4868 late in the evening on 4/14 with a direct debit request for the 15th, and it was acked at 10:30pm that same night. I checked with my client and he said that his online banking shows the withdrawal on 4/16. Does anyone think that the IRS will give credit for the payment as of the 15th and that this is only the date that it cleared the client's bank? I know that when I've used EFTPS on the 14th and scheduled a payment for the next business day, that business day is the date that it would show up on my bank statement, not the day after. And fwiw, some other people on the official ATX forum were complaining of direct debits not being withdrawn, so you aren't the only one affected. Same problem occurred last year and that had something to do with a code and the amount not showing up properly, and then some preparers had their clients send checks in that duplicated the payment. Quote Link to comment Share on other sites More sharing options...
Kea Posted May 1, 2013 Report Share Posted May 1, 2013 I would think the payment should be considered timely. If it had been mailed by midnight 4/15, it wouldn't have gotten to IRS for a few days and then a few more days to clear the bank. But in both cases the payment was "sent" on 4/15 even if IRS doesn't have for a few more days. Quote Link to comment Share on other sites More sharing options...
TaxmannEA Posted May 1, 2013 Author Report Share Posted May 1, 2013 These were all payments that were scheduled to be taken before the 15th. I've had no complaints from the ATX returns that I did. These are all clients that were done on Drake. Probably an IRS problem, but they're hard to reach by phone. Quote Link to comment Share on other sites More sharing options...
jainen Posted May 1, 2013 Report Share Posted May 1, 2013 >>Does anyone think that the IRS will give credit for the payment as of the 15th<< According to this FAQ, http://www.irs.gov/uac/Pay-Taxes-by-Electronic-Funds-Withdrawal, "After the return due date, the effective date for EFW payments is the date the return or form is successfully transmitted." Further down it says not to call for at least 7 to 10 days. Once again, IRS admits its limitations and is fair and reasonable. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted May 1, 2013 Report Share Posted May 1, 2013 Jainen, thank you. Quote Link to comment Share on other sites More sharing options...
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