Extension payment draft date as a result of American Rescue Plan

[Stephen Boyd]

The American Rescue Plan changed the due date for federal individual tax returns and balance due payments to May 17, 2021. Will the electronic payment bank draft date for previously extended tax returns be changed to May 17, 2021 or will these payments still be drafted from the bank on April 15th?

[sjrcpa]

If you already filed it with April 15, 2021 as the payment date, that's when it will be paid.

[tyler919]

To cancel the payment for 4/15, call the number listed on the Federal Filing Instructions, and then supply the client with a 1040V to mail in a check.  There may be another way to pay online but they probably charge you a fee. You cannot (I'm told) change the date with the 888 number, only cancel it.

[sjrcpa]

There is no fee to use IRS Direct Pay - at least when you pay from a bank account.

[pamdory]

Yep, I've used Direct Pay on irs.gov  for years.  No fee and you can print your confirmation and receive a confirming email too.

I'm actually advising clients to use this method for 2020 payments.  They aren't sending a piece of paper to IRS which is a big plus.

They receive confirmation of the amount, date and how it was credited.

I'm not stuck in the situation that we have with changing due dates that don't coincide with the day the client wants to pay.

That being said, I need to put together a general instruction page to give them so they know how to answer the various questions the system asks.