Chandler Tax Service, INC

APRIL 2, 2020 DO YOU NEED TO CANCEL IRS PAYMENTS ALREADY SUBMITTED IN A TAX RETURN? Note: IRS instructions for modifying payment methods are the same for individuals and businesses.... They do not allow the withdrawal date to be changed. They only cancel payments. Direct Debit payments Taxpayer can call the IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel a scheduled payment. Please wait 7 to 10 days after the return was accepted before calling. Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date. EFTPS (Electronic Federal Tax Payment System) See https://www.irs.gov/pub/irs-pdf/p4990.pdf To cancel a payment, taxpayer will need the following: Taxpayer’s EIN (for businesses) or SSN (for individuals) PIN Tax form number The last eight digits of the EFT Acknowledgment Number for the payment to cancel (this was the confirmation received when the payment was scheduled). If you do not have the last eight digits of the EFT Acknowledgment Number, please call EFTPS Customer Service: English: 1.800.555.4477 En español (Spanish): 1.800.244.4829 Online Log in and select Payments. Select Cancel a Payment and follow the process. Record the Cancellation EFT Acknowledgment Number you receive, and keep for your records Phone: Call the EFTPS Tax Payment toll-free number (available 24 hours a day, 7 days a week): 1.800.555.3453 2 Follow the voice prompts. Record the Cancellation EFT Acknowledgment Number received, and keep for your records. Note: If you wish to cancel a scheduled payment, you must do so by 11:59 p.m. ET at least two business days before the scheduled date. For example, a payment scheduled for Monday cannot be canceled after 11:59 p.m. ET the previous Thursday.

DO YOU NEED TO CANCEL A SCHEDULED IRS TAX PAYMENT THAT IS ALREADY SUBMITTED IN A TAX RETURN? Note: IRS instructions for modifying payment methods are the same for individuals and businesses. They do not allow the withdrawal date to be changed. They only cancel payments.... Direct Debit payments Taxpayer can call the IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel a scheduled payment. Please wait 7 to 10 days after the return was accepted before calling. Cancellation requests must be received no later than 11:59 p.m. ET two business days prior to the scheduled payment date. EFTPS (Electronic Federal Tax Payment System) See https://www.irs.gov/pub/irs-pdf/p4990.pdf To cancel a payment, taxpayer will need the following: Taxpayer’s EIN (for businesses) or SSN (for individuals) PIN Tax form number The last eight digits of the EFT Acknowledgment Number for the payment to cancel (this was the confirmation received when the payment was scheduled). If you do not have the last eight digits of the EFT Acknowledgment Number, please call EFTPS Customer Service: English: 1.800.555.4477 En español (Spanish): 1.800.244.4829 Online Log in and select Payments. Select Cancel a Payment and follow the process. Record the Cancellation EFT Acknowledgment Number you receive, and keep for your records Phone: Call the EFTPS Tax Payment toll-free number (available 24 hours a day, 7 days a week): 1.800.555.3453 2 Follow the voice prompts. Record the Cancellation EFT Acknowledgment Number received, and keep for your records. Note: If you wish to cancel a scheduled payment, you must do so by 11:59 p.m. ET at least two business days before the scheduled date. For example, a payment scheduled for Monday cannot be canceled after 11:59 p.m. ET the previous Thursday.

Economic Impact Payments: What You Need To Know; Check IRS.gov for the latest information IR-2020-61 WASHINGTON The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus...Continue reading

March 19, 2020, 5:04 PM CDT / Updated March 20, 2020, 3:48 PM CDT By Adam Edelman, Sahil Kapur and Julie Tsirkin The plan unveiled Thursday night by Senate Republicans to provide direct cash assistance to help Americans hurt by the coronavirus pandemic would send checks of up to $1,200 per person in a one-time payment and payments would be based on income. Under the plan, the details of which were revealed on the Senate floor by Majority Leader Mitch McConnell, R-Ky., indiv...iduals making up to $75,000 annually would be eligible for a $1,200 check from the federal government. The cash would be delivered in a one-time payment. President Donald Trump and Secretary of the Treasury Steven Mnuchin had in recent days pushed for Americans to get two payments. Full coverage of the coronavirus outbreak Married couples who file their taxes jointly would have to make less than $150,000 to qualify for their payment, which would be $2,400. From there, according to McConnell's proposal, the payments would decrease. For individuals, the sum of the payment would fall by $5 for each $100 earned over $75,000. 'This is no ordinary time': McConnell discusses coronavirus relief plan MARCH 19, 202001:17 The payment would phase out entirely for individuals making more than $99,000 annually, meaning people who make more than that would not get any money from the government, according to the proposal. For married couples earning more than $150,000, the payment would also decline gradually, and it would phase out completely for couples making more than $198,000, according to the plan. The checks, however, would reduce to $600 (or $1,200 for married couples) for taxpayers who have little or no income tax liability but have at least $2,500 in qualifying income, according to a GOP summary of the plan. CORONAVIRUS Americans would get two checks under Treasury Department proposal CORONAVIRUS U.S. tax filing day moved from April 15 to July 15 Individuals and couples with children would be eligible for an additional $500 per each child they have. Download the NBC News app for full coverage and alerts about the coronavirus outbreak "These recommendations would blunt the impact for most Americans and limit the damage to the U.S. economy," Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said in a statement. "These recommendations won't be the end of the congressional response to the coronavirus." The income levels the government would review to make the cash payout determinations would be based on 2018 tax returns, McConnell said. The direct cash payment proposal is part of a broader stimulus package to combat the economic effects of the coronavirus pandemic.

PSA!! The IRS has officially moved the deadline to file taxes to July 15th.PSA!! The IRS has officially moved the deadline to file taxes to July 15th.