On 2015-04-26 00:26, Polly wrote:
> I owe taxes on 2014 Federal tax return. I put the correct figure in on my
> check, but I incorrectly wrote the handwritten amount. The incorrect
> handwritten amount was withdrawn from my bank account so unfortunately full
> tax owed was not paid. I do not want to have to pay a penalty for the
> balance
> I'm still owing. How do I rectify this?
>
You can't. If the system works correctly, you will be assessed a
failure to pay penalty if the underpayment was large enough.
Think about it - if it was that easy, everyone who couldn't afford to
pay the full amount on time would just write a check like you did and
say it wasn't their fault.
The penalty will be very minimal if you immediately make a second
payment for the deficiency.
Better yet, the IRS has an official policy of First Time Abatement for
taxpayers who have been in full compliance with all their tax
obligations for the past three years minimum. So, even if a penalty is
assessed, you should be able to get it abated if you have a clean filing
and payment record previously.
Finally, this is a good reason to make your payments electronically,
which is now easier than ever with IRS Direct Pay through the web site.
--
Mark Bole, EA
http://markboletax.com