- Withdrawal Consent -

I authorize the U.S. Treasury and its designated Financial Agent to initiate an ACH electronic funds withdrawal entry to the financial institution account indicated for payment of my federal taxes and the financial institution to debit the entry to this account.

To revoke a payment, I must contact the U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days prior to the payment (settlement) date.

I also authorize the financial institutions involved in the processing of the electronic payment of taxes to receive confidential information necessary to answer inquiries and resolve issues related to the payment.

When it comes to payment for federal taxes owed, an ACH (Automated Clearing House) electronic funds withdrawal consent, often referred to as an "ACH authorization" or "ACH authorization form," is a written or electronic agreement that allows the IRS (Internal Revenue Service) to initiate electronic debits or withdrawals from your bank account to cover your tax liability.

Here are key points regarding ACH electronic funds withdrawal consent for federal taxes:

1. Authorization Form: To make tax payments via ACH, you'll need to complete and submit Form 8879, IRS e-file Signature Authorization. This form authorizes the IRS to debit your bank account for the amount you owe in federal taxes.
2. Information Required: Form 8879 typically requires you to provide your bank account number, routing number, the tax amount to be paid, and your signature. It's a crucial step in the e-filing process.
3. Revoking Consent: If you've authorized the IRS to withdraw funds electronically but later need to cancel or modify the payment, you should contact the IRS promptly to discuss your options. Revoking consent or making changes may be possible depending on the situation.
4. Payment Options: The IRS offers various payment options, including ACH debit, credit card payments, electronic funds transfer, and more. Each method may have different processing times and associated fees, so it's important to choose the one that best suits your needs.
5. Timing and Deadlines: Pay attention to payment deadlines, as timely payment is crucial to avoid penalties and interest. The due date for your federal tax payment is typically April 15, but it can vary depending on the tax year and circumstances.
6. Electronic Payment Systems: The IRS provides electronic payment systems, such as the Electronic Federal Tax Payment System (EFTPS), which allows individuals and businesses to make federal tax payments electronically. You may need to enroll in EFTPS to use this service.
7. Record-Keeping: Keep records of your tax payments and authorizations for your financial records and for reference in case of any inquiries or issues.

Always review the specific instructions and guidelines provided by the IRS for making federal tax payments via ACH and consult with a tax professional if you have any questions or need assistance with the process.