Automated estimated quarterly tax payments

[Prupet]

I set up automated quarterly tax payments for a few clients that now want to take advantage of not paying on April 15th or feel they may not owe at all because of their business or investment revenue taking a dive.  How can we stop? 

[IRonMaN]

"I set up automated quarterly tax payments for a few clients"

That was your first mistake.  Now their whims are making your life difficult.  Tell them they need to call the IRS if they want things changed.

[Just-Lisa-Now- · Accepted solution]

Cancellations, Errors and Questions:

• In the event Treasury causes an incorrect amount of funds to be withdrawn from a bank account, Treasury will return any improperly transferred funds.
• Once your return is accepted, information pertaining to your payment, such as account information, payment date, or amount, cannot be changed. If changes are needed, the only option is to cancel the payment and choose another payment method.
• Call IRS e-file Payment Services 24/7 at 1-888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your 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.
• If a payment is returned by your financial institution (e.g., due to insufficient funds, incorrect account information, closed account, etc.) the IRS will mail a Letter 4870 to the address we have on file for you, explaining why the payment could not be processed, and providing alternate payment options.
• In the event your financial institution is unable to process your payment request, you will be responsible for making other payment arrangements, and for any penalties and interest incurred.
• Contact your financial institution immediately if there is an error in the amount withdrawn.

[Prupet]

VERY helpful, thank you Lisa.