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I just recently filed on TurboTax. This is the only time I've had to pay the IRS anything beyond what they normally take in withholding. I know normally when they "withhold" more than they're supposed to, they take their sweet time getting a rebate into my bank account.

My tax return was approved from the IRS. I'm wondering how long it'll take them to hit my account for the money? Is there anyway I can follow up on this, to know when they're going to hit it? Do I have any concern for penalty if they do not hit it by the end of today (when taxes are due)?


Follow-up: the IRS hit the account on April 19th.

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    Your question title uses "credit", but that normally means that you expect money to be deposited into your account. I would expect that how long it takes for the government to deduct money from your account is not necessarily the same as how long it takes for it to deposit money into your account.
    – jamesdlin
    Apr 18, 2022 at 20:40
  • @jamesdlin I thought if it was your bank account, it's a debit when the money goes in and a credit when it goes out? "Credit is an accounting entry on the right-hand side which leads to either decrease in the asset account or expense account, or lead to increase in the liability account or equity account of the company." Apr 18, 2022 at 20:55
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    I guess the accounting definitions are backwards from how "normal" people use them: en.wikipedia.org/wiki/Debits_and_credits#Terminology When you access your bank account online, you might see options to view "All credits" and "All debits", which usually use the typical, non-accounting interpretation: "All credits" usually shows all transactions that increase your balance, and "All debits" usually shows all transactions that decrease it.
    – jamesdlin
    Apr 18, 2022 at 22:19
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    The terms "debit" and "credit" are relative to who is taking the action, and in most transactions they are relevant to, it is a business or organization that is officially taking action. When an actor debits an account, they transfer money from the account to their own. When an actor credits an account, they transfer money from their own account to the referenced account. If you expect the IRS to be taking money from your account, then you expect the IRS to debit your account. You could also say that you will credit the IRS, but that would be a very unusual way to put it.
    – Douglas
    Apr 18, 2022 at 23:55
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    We can all agree on "steal" if the site is cool with that edit. Apr 19, 2022 at 15:06

2 Answers 2

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Todays deadline is for filing. So long as you have filed(and submitted payment) by today, when you actually pay your owed taxes(money leaving your account) doesn't affect the "lateness" of your taxes.

I'm a bit confused where you refer to the IRS taking the money from your account. When you owe taxes to the IRS, you send a payment in with your filed taxes to balance the account. The allowed methods of payment are listed on the IRS website. Typical ACH payments are processed rather quickly (anecdotally, they pulled a 3700 payment in less than 2 days after submission from me). Paper check or other forms of payment may take longer, based on clearing times and time of receipt.

Additional information from the comments: The date you submit your payment on is the date it's considered "paid" (so long as the payment clears etc.) This is similar to how paper checks/paper filing works, the postmark date is what matters. Payments are still due the same day as taxes are filed (in 2022, this is April 18th).

Payment status can be checked 2 weeks after your return is accepted by calling the IRS at their toll free number.

There is no penalty for overpaying owed taxes (only for underpaying). If an abundance of caution is desired and you have the resources to do so, there is no harm in making a manual payment through the IRS website. If such a payment is duplicate, the extra will be refunded eventually by the IRS.

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  • I'm using Turbo tax so I think it is set up for ACH. I'm just concerned because I didn't see an acknowledgement anywhere that they would do an ACH payment, or when they would do an ACH payment, so I feel a bit in the dark. I guess I should give the IRS another 2 days before I show concern over it? Apr 18, 2022 at 14:49
  • Also when is the deadline for making payment if today was just the deadline for filing? Apr 18, 2022 at 14:50
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    @EvanCarroll TurboTax includes the ACH payment authorization as part of it's E-File process. You should certainly keep an eye on your account to make sure it does get sent inside the next week, but I wouldn't worry too much about it. the payment deadline is the 18th, but the funds don't have to move by then, just the authorization, which should already be on the way. This is very much like mailing a paper check in that regard. The postmark is on time, so even if the funds don't move until later, it's still considered on time.
    – GOATNine
    Apr 18, 2022 at 14:53
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    @EvanCarroll if you're that concerned with missing the payment or being late, you can always pay the owed taxes right now through the IRS website. You will end up double paying and receiving a refund for the extra within a couple months if your initial filing included the payment. Status checking isn't available until a couple weeks after they accept your return, in which case you can call their toll free number to check.
    – GOATNine
    Apr 18, 2022 at 15:00
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    @shoover ambiguous, my intent (as clarified in the second paragraph) was to say filed and paid. I'll edit to clarify. So long as the payment is submitted by the deadline, actual debit of the payment won't cause a late penalty (assuming the payment doesn't bounce).
    – GOATNine
    Apr 19, 2022 at 3:34
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When you e-file in TurboTax, it asks you how you want to pay the amount due, and you have to make a decision. I think they offer 'pay with ACH from my account' (the default), and 'mail a check separately', but for sure you must have made a decision there, otherwise you can't e-file.
If you picked ACH, they also ask you for the date you want it paid, and the default is the day you're filing, but you can pick to pay any other day up to the last possible day (which should be the default...). Again, we wouldn't know what you picked...

If you filed only this weekend, they will deduct today, as that's the only possibility. Otherwise, open TurboTax and look at your decisions there.

If you chose "I'll mail a check", then, well, you should mail a check. Today.

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  • Where do you go to "look at your decisions" I don't see that in TurboTax? Apr 18, 2022 at 18:32
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    @EvanCarroll haven't used TT in a while, but I believe if you export your tax return they'll add an instruction page to the PDF with the instructions on how to pay.
    – littleadv
    Apr 18, 2022 at 18:48
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    They also offer paying by credit card, but there's a service charge for that IIRC.
    – Barmar
    Apr 19, 2022 at 15:53

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