Electronic Payment... Efile

[Ray in Ohio]

What is the latest you can efile a return and still have the payment (taxes due) electronically deducted from your checking account by April 15th.

Is it as long as the return is accepted by the 15th?

Never really had this come up before. Experiences??

(Hang in there y'all....... one more week)

[Yardley CPA]

If memory serves me, last year I efiled a return with a balance due on April 15th. I entered 4/15/08 into the payment field on the Efile Information Tab and it was accepted with no problems. The amount due was pulled from the clients account the next day. Never heard a word from the IRS about late payment or anything.

[David1980]

The return will reject based on IRS reject code 0397. If transmitted on or before April 15th, the payment date can't be after April 15th. When transmitted after the 15th, the payment date can't be after the processing date. The year must be the current year. The date can't be prior to the current processing date minus five days.

So basically, it go be from 5 days in the past til April 15th. If after the 15th, 5 days into the past til the current date.

By allowing 5 days into the past they'll accept returns that have been rejected & retransmitted or completed one day and transmitted the next. Obviously the debit won't occur til they actually process the return.