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Latest time you can File Electronically

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Rick

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Apr 14, 2017, 1:03:45 PM4/14/17
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Taxes are due on April 18th this year, which is a Tuesday. In this case, I
will owe money to the IRS and will want them to deduct the funds from my
checking account on the 18th. If I file electronically using TaxAct or one
of the other online tools, what is the latest I can do the final submit in
the program to assure the IRS will have time to get the funds without
charging any interest? On the online submission, you do get to specify the
date you want the funds taken out, but if I wait until the 18th to do the
submission, I don't see how they could still take the funds out on the 18th.

Or does it work the way it does with paper returns? In the case of a paper
return, I can mail it on the 18th and only need a postmark with that date.
If it takes a week to physically get to the IRS, it doesn't matter. Does it
work the same way with online submissions? That is, is it ok if I do the
submit any time on the 18th (before midnight) or do I have to do it a day or
two ahead?

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paultry

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Apr 14, 2017, 2:29:43 PM4/14/17
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On 4/14/2017 12:01, Rick wrote:
> Taxes are due on April 18th this year, which is a Tuesday.
> In this case, I will owe money to the IRS and will want them
> to deduct the funds from my checking account on the 18th.
> If I file electronically using TaxAct or one of the other
> online tools, what is the latest I can do the final submit
> in the program to assure the IRS will have time to get the
> funds without charging any interest? On the online
> submission, you do get to specify the date you want the
> funds taken out, but if I wait until the 18th to do the
> submission, I don't see how they could still take the funds
> out on the 18th.
>
> Or does it work the way it does with paper returns? In the
> case of a paper return, I can mail it on the 18th and only
> need a postmark with that date. If it takes a week to
> physically get to the IRS, it doesn't matter. Does it work
> the same way with online submissions? That is, is it ok if
> I do the submit any time on the 18th (before midnight) or do
> I have to do it a day or two ahead?

If you pay through IRS Direct Pay, you can get same-day
credit, but if Direct Pay is down on your payment due date,
you are out of luck:

"Can I make a same-day payment?
Yes, with IRS Direct Pay you can select the current date and
get credit for your payment today. However, your payment is
due regardless of Direct Pay availability, so please plan
ahead to avoid penalties and interest."

https://www.irs.gov/payments/direct-pay-help#q11a

Rick

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Apr 14, 2017, 4:20:26 PM4/14/17
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"paultry" wrote in message news:ocr47c$ik7$1...@dont-email.me...
Is IRS Direct Pay what the online tax tools like TaxAct and TurboTax use?

--

BignTall

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Apr 14, 2017, 4:20:26 PM4/14/17
to
On 4/14/2017 12:01 PM, Rick wrote:
> Taxes are due on April 18th this year, which is a Tuesday. In this
> case, I will owe money to the IRS and will want them to deduct the funds
> from my checking account on the 18th. If I file electronically using
> TaxAct or one of the other online tools, what is the latest I can do the
> final submit in the program to assure the IRS will have time to get the
> funds without charging any interest? On the online submission, you do
> get to specify the date you want the funds taken out, but if I wait
> until the 18th to do the submission, I don't see how they could still
> take the funds out on the 18th.
>
> Or does it work the way it does with paper returns? In the case of a
> paper return, I can mail it on the 18th and only need a postmark with
> that date. If it takes a week to physically get to the IRS, it doesn't
> matter. Does it work the same way with online submissions? That is, is
> it ok if I do the submit any time on the 18th (before midnight) or do I
> have to do it a day or two ahead?

An efiled return that uses the Electronic Funds Withdrawal (EFW) feature
of efile should have the payment credited on the payment date you
specify when the return is efiled. If you efile on the 18th with the
payment date specified as the 18th, your payment should be considered
as made on the 18th. If it takes the IRS a day or two to actually
get the money from your account, that is not your problem.

The last thing the IRS wants is for people to be printing 1040-Vs,
writing paper checks, and mailing payments on the 18th.

https://www.irs.gov/uac/pay-taxes-by-electronic-funds-withdrawal
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