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Category: Refunds/Amount Owed
22 Articles
Orange arrow Can I pay the IRS the amount I owe with a credit card?

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  You may pay by phone or over the Internet through one of the service providers listed below (provided from the IRS). Official Payments Corporation 1-800-2PAY-TAX (1-800-272-9829) 1-877-754-4413 (Customer Service) www.officialpayments.com. Link2Gov Corporation 1-888-PAY-1040SM (1-888-729-1040) 1-8...
Orange arrow Payment Information

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  DO NOT enter withholdings from any income statements such as W2, 1099, etc. in the payments section. (This mistake would either cause your return to be rejected by the IRS or accepted and a letter later mailed to you stating you owe this money back along with penalty and interest amounts.) You must...
Orange arrow How do I pay the taxes I owe?

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  IRS: Below are the options you have for paying the taxes you owe to the IRS: You can simply fill in the requested information during the interview process to have the amount withdrawn from your checking or savings account. This option is called electronic funds withdrawal or EFW. No fees apply...
Orange arrow What is a bank routing number?

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  The routing transit number is the nine-digit number on the lower left of your check. It is designated for your bank only. You may also call your bank to get your RTN. Please be sure that your bank processes direct deposits. There may be rare instances where your routing transit number is valid, b...
Orange arrow Underpayment Penalty

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  The United States income tax is a pay-as-you-go tax, which means that tax must be paid as you earn or receive your income during the year. You can either do this through withholding or by making estimated tax payments. If you do not pay enough tax, you may have to pay a penalty for underpayment of ...
Orange arrow If You Owe ...

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  Payment options for tax owed to the IRS are available in the OLT software, choose from the following: Electronic funds transfer (EFW), this is a direct debit to your bank account by the IRS once the return is accepted. Enter your bank routing number and account number and a date to authorize the ...
Orange arrow What do I do if my banking information is wrong?

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  If your return has not been accepted, you simply need to correct your banking information before submitting. Return to the tax summary page of the federal and state return to make corrections. If your account number has changed or was entered incorrectly it will depend on the method you chose to h...
Orange arrow When will I get my refund?

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  The IRS issues more than 9 out of 10 refunds in less than 21 days with direct deposit. However, it’s possible your tax return may require additional review and take longer. The easiest way to check your refund status is by using the Where's My Refund link (https://www.irs.gov/refunds). It has...
Orange arrow Do I have to claim my state or local refund from last year?

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  Line 10: Taxable Refunds, Credits, or Offsets of State and Local Income Taxes None of your refund is taxable if, in the year you paid the tax, you either (a) did not itemize deduction, or (b) elected to deduct state and local general sales taxes instead of state and local income taxes. If you rec...
Orange arrow Do I owe an underpayment penalty?

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  In general, you may owe a penalty if the total of your withholding and estimated tax payments did not equal at least the smaller of: 90% of your current year tax, or 100% of your prior year tax. (Your prior year tax return must cover a 12-month period.) The IRS will figure this amount for you aut...
Orange arrow Can I switch payment options?

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  If you paid by credit card or PayPal, you cannot change payment options. If your return has not yet been accepted by the IRS and you originally chose RT you can change your payment option. You cannot change your bank product option once the tax return has been accepted by the IRS. Please note: ...
Orange arrow How do I cancel a request for a refund transfer?

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  You cannot cancel a Refund Transfer (RT) request after a tax return is electronically filed and accepted by the IRS. The payment will be electronically sent though SBBT on your behalf as originally requested without exception. If your return is not already filed and accepted you may choose to pay ...
Orange arrow What happens if my refund check goes to pay off outstanding debts of mine?

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  How long does it take to post money to Other Agency Accounts (OAA)? Allow one to two weeks for payments to post to OAA, once a payment arrives at the department. Other offsets applied to OAA take two to three weeks If part of my refund will be held and offset against an outstanding liability of m...
Orange arrow What is the status of my refund transfer request?

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  Log into your return and look for Santa Barbara bank and Trust link in the Summary page once your return is accepted. You can also go directly to the TPG and Trust web site to check on the status of your Refund Transfer (pay from refund): https://cisc.sbbtral.com/index.asp or by calling 877-908-722...
Orange arrow What is ACH?

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  ACH stands for "Automated Clearing House", the system used by banks and governmental agencies (e.g. IRS) to transmit direct deposits and debits. This process is unlike a wire transfer (which is a same day transaction), and may take up to 1-3 business days to complete the process from one bank to an...

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