TAP 05-028

EFTPS Correcting Erroneous Payments

Statement of Issue:

Taxpayers and professionals are not adequately advised by the IRS how to timely cancel or obtain a refund for an erroneous quarterly estimated tax deposit payment (Form 1040ES) made via Electronic Funds Transfer Payment System (EFTPS) within 48 hours of the due dates.

Proposal:

TAP recommended that IRS add instructions to EFTPS brochures outlining remedies for taxpayers who make erroneous EFTPS payments within 48 hours of the due date.

Response Notes: