JEAN2
Level 1
03-17-2020
12:28 PM
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A client elected automatic withdrawal from bank account of federal quarterly estimated tax payments. Now because of the Covid-19 problem that client's income will be considerably less. How do I void those estimated tax payments?
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abctax55
Level 15
03-17-2020
12:31 PM
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You'll have to call the IRS to get those changed/cancelled.
"*******Tax software is no substitute for a professional tax preparer*******
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User FIDO 61
Level 8
03-17-2020
12:43 PM
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"To cancel the payment, call the U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days prior to the payment (settlement) date. Cancellation of a required estimated tax payment could lead to penalties and interest charges."
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