Here’s how to cancel or reschedule a federal tax payment if you’ve already e-filed
If you scheduled payment of your federal income taxes ahead of or on April 15 but would rather take the extended time now allowed to pay, you’ve got some options.
The federal tax filing deadline has been extended to July 15 as a result of the nationwide coronavirus outbreak and the financial toll it has taken on many U.S. taxpayers.
Additionally, “Individual taxpayers who need additional time to file beyond the July 15 deadline can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004,” according to the Internal Revenue Service.
If you already e-filed taxes and scheduled a direct debit payment, you need to cancel and reschedule using the same system you used to schedule the digital payment.
Dina Pyron, Global Leader of Ernst & Young TaxChat, offers these tips if you need to cancel a payment:
“If you used any of the government-hosted methods of scheduling automated payment, you must change that date at least two business days before the payment date. If you scheduled payment for April 15, we suggest making the change by Friday, April 10,” Pyron said in a Q and A media advisory for taxpayers.
“For people who scheduled a payment through IRS Direct Pay, refer to the confirmation number on the email notification of your scheduled payment to access the Look Up a Payment feature.”
Other methods depend on the system with which you scheduled your payment.
▪ Electronic Federal Tax Payment System: “Click on Payments from the EFTPS homepage, login, then click Cancel a Tax Payment from the left menu and follow the instructions.”
▪ Authorized an electronic funds withdrawal as part of filing your tax return: “You may cancel your payment by contacting the U.S. Treasury Financial Agent at 888-353-4537.” Again, make sure you contact at least two business days before the scheduled payment.
▪ Scheduled a payment by credit card or debit card: “Contact the card processor to cancel the card payment. Though each company will require different timing, we still recommend requesting the cancellation by Friday, April 10 to make sure the change goes through.”
This story was originally published March 25, 2020 at 5:15 PM with the headline "Here’s how to cancel or reschedule a federal tax payment if you’ve already e-filed."
