michaelmars Posted February 25, 2017 Report Posted February 25, 2017 a clients return got filed with a balance due and automatic withdrawal set for 4/15. The client wanted an installment agreement file with the return. I know I can have the client empty the account before 4/15 but was wondering if there is anyother way to supercede the return since its way before 4/15. Quote
Abby Normal Posted February 25, 2017 Report Posted February 25, 2017 Your only hope is to call the IRS payments department... but I'd drain (or even close) the account just in case. 1 Quote
Jack from Ohio Posted February 25, 2017 Report Posted February 25, 2017 Bouncing an agreed payment will only trigger fees and interest. I would not recommend that course of action. This should have been thought out and discussed BEFORE filing the return. 1 Quote
Max W Posted February 25, 2017 Report Posted February 25, 2017 I will absolutely not file a return with direct withdrawal. I do not want to be responsible for some screwup, or clients changing their mind. When clients have a balance due, they are always informed of how to pay on line at irs.gov. It is fast, simple and they get written confirmation. 5 Quote
jasdlm Posted February 25, 2017 Report Posted February 25, 2017 I have been using the same approach as Max W. The ONE time I did electronic withdrawal, the IRS withdrew the money twice (no mistake on the return; just an IRS debit error). I called (hold, hold, hold) and although they acknowledged the error, it took 8 weeks for the money to be returned. It was a substantial sum of money, and having it withdrawn twice and then being without the additional funds for 2 months was a hardship for the client. I will not do that again. 3 Quote
michaelmars Posted February 26, 2017 Author Report Posted February 26, 2017 7 hours ago, Jack from Ohio said: Bouncing an agreed payment will only trigger fees and interest. I would not recommend that course of action. This should have been thought out and discussed BEFORE filing the return. OBVIOUSLY, and it was, that's why I am trying to stop the payment, we will be liable for the bounced penalties. this was a miscommunication between the preparer and the reviewer [me]. 2 Quote
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