payments scheduled on 4/15 but appear later in bank statement

Apr 19, 2013 1 Replies

My 4868 was filed on 4/15 with payment scheduled for that day, but the bank statement shows the money was taken out of my account only on



4/18. As for CA Webpay, I logged in 4/14 at night and scheduled a payment for 4/15, but on bank statement it only shows up on 4/16. Will this be a problem as in incurring late penalties and interest?

I asked the same question recently at NAEA members-only web-board. Not a lot of responses, but one confirmation that EFW (electronic funds withdrawals) scheduled on a return filed on 4/15 seem to be considered timely even though not taken from the bank until one or two business days later.

IRS provides only one slightly vague statement at the web site:

"After the return due date, the effective date for EFW payments is the date the return or form is successfully transmitted."

This seems to imply that just like a paper mailed check, it is the (electronic) postmark date, not the date it clears your bank, that counts for the payment to be considered timely.

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