Hello! This is my first time not being a dependent anymore, so I, of course, procrastinated on filing and paying my taxes. The only thing I'm concerned about at this point is my bank not accepting that much money being taken out to pay.
I filed yesterday, and both the federal and state were already accepted, but no money has been taken out of my account yet for either state or federal.
As long as I submitted accurate payment info and filed before the 15th deadline, even if it takes until say the 20th for the IRS to withdraw the payment, will I still be penalized for my payment taking place after the 15th?
Sorry, once again, if this is a really dumb question, but I was on a time crunch, so I just didn't go with our family's accountant to get these done
New Tax Payer: Filed through FreeTaxUSA – how long for payment to go through
byu/Aggravating_Oil_309 intax
Posted by Aggravating_Oil_309
3 Comments
Since you filed and were accepted before the deadline, you can breathe a sigh of relief.
Here is the breakdown of how the payment timeline and penalties work:
# 1. The “Effective Date” Rule
As long as you submitted your return and authorized the payment by the **April 15th deadline**, your payment is considered “on time” by the IRS and state authorities.
* **The Timestamp Matters:** Even if the IRS doesn’t actually pull the funds until the 20th, the electronic record shows you initiated the payment on or before the 15th.
* **No Penalties:** You will not be hit with late payment penalties or interest because the “failure to pay” is based on the date you authorized the transaction, not the date the bank finished processing it.
# 2. Processing Timelines
It is completely normal for there to be a delay. Typically, it takes **2 to 5 business day**s for the funds to leave your account. Since the 15th falls mid-week, seeing the withdrawal early next week is standard.
# 3. Your Bank’s Limit
You mentioned a concern about your bank blocking the transaction. While most standard checking accounts allow IRS withdrawals without issue, here is what you should keep in mind:
* **Availability of Funds:** Ensure the total amount for both state and federal is sitting in the account right now. If the IRS attempts a “pull” and the funds aren’t there, your bank may reject it, which *could* then lead to a dishonored payment penalty.
* **Large Transaction Alerts:** If you are worried about a specific “daily spending limit,” those usually apply to debit card swipes or ATM withdrawals, not ACH transfers (which is what tax payments are). However, you can always call your bank’s customer service line to let them know a large tax payment is pending so they don’t flag it as suspicious.
# 4. How to Verify
If you want absolute peace of mind, you can check the status through these official portals:
* **Federal:** Use the[IRS “Your Online Account”](https://www.irs.gov/payments/your-online-account)tool. It will eventually show the payment as “Pending” or “Processed.”
* **State:** Most state Departments of Revenue have a similar “Where’s My Refund/Account” portal where you can see the status of your filing and payments.
The IRS can do an ACH transfer the same day the efiling is accepted, though its typically the day after. I make five payments a year including estimated payments.
I put in the payment on eftps website on sun 12th. It hit my bank mon 13th