How to Change Your Scheduled Federal Income Tax Automatic Withdrawal Payment Date
Dear Valued Clients and Friends, The Treasury Secretary has extended the federal income tax filing and payment deadline for individual and some corporate returns from normal tax deadline of April 15th, to July 15, 2020. It appears that MN and WI will follow suit with extending the state income tax deadline. We will send out another communication when the details of the Minnesota and Wisconsin filing/payment deadline are finalized. If you have already scheduled your tax payments for April 15 via automatic withdrawal, you are still able to change the auto-withdrawal date to the new July 15th deadline by contacting the IRS. to cancel the automatic withdrawal, you will need to call the IRS e-file Payment Services 24/7 phone number: 1-888-353-4537. the IRS request taxpayers wait 7-10 after your return has been accepted to call. We do recommend that if you have the funds available to make your final 2019 tax payments by April 15th, or shortly thereafter, then we recommend you do so as interest rates are currently very low and these funds would likely not be earning much otherwise. In addition, if your 1st quarter 2020 tax payments have been calculated and you have the funds available to make these payments by April 15th, or shortly thereafter, we recommend you do so for the same reason. Otherwise, you technically
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