1 min read

Some Experiencing IRS Payment Delays

Picture of Meagan Weber, CPA, MBT Meagan Weber, CPA, MBT : August 20, 2020

News Tax Planning Strategies COVID-19
Some Experiencing IRS Payment Delays

UPDATED: August 25, 2020 - The IRS has temporarily suspended the issuance of notices CP501, CP503, and CP504 to taxpayers who may have a balance due on their taxes, as a delay between taxes being paid and recognized has created some confusion among those receiving a notice after paying taxes. You can read more on the IRS website.

ORIGINAL POST: August 20, 2020 – The IRS has indicated they are behind in processing payments due to Covid-19—although the return may have been processed, many of the checks mailed either with or without a tax return have not been cashed. 

As a result, many taxpayers have received notices recently indicating they have a balance due on their account when in fact they have already made the payment.  Also, payments made will be posted according to the received date rather than the date on which they are processed.

The IRS has indicated that taxpayers who have already submitted a payment should not stop payment and re-issue a check as this action may incur unnecessary penalties and interest. Instead, they should wait until the IRS processes their payment. If taxpayers receive a notice regarding this but have confirmed the payment has been made, no further action is needed.

You can click here to read more on the IRS website.
Washington’s New Individual Income Tax: What High‑Income Taxpayers Need to Know Now

Washington’s New Individual Income Tax: What High‑Income Taxpayers Need to Know Now

Picture of Jared Weiskopf, CPA Jared Weiskopf, CPA: May 5, 2026

Washington has historically stood out as a state without a broad-based individual income tax. That will change at the beginning of 2028. In March of...

Taxes State and Local Tax
Read More
Real‑World Perspectives from Deal Leaders: The Impact of AI Across the M&A Lifecycle

Real‑World Perspectives from Deal Leaders: The Impact of AI Across the M&A Lifecycle

Picture of Joe Hellman, CPA Joe Hellman, CPA: April 30, 2026

Artificial intelligence is no longer a future consideration in Mergers and Acquisitions. It is already here, and it is actively influencing how...

Mergers and Acquisitions
Read More
Is Your Client Approaching the 401(k) Audit Threshold? What Financial Advisors Should Be Watching Before Year-End

Is Your Client Approaching the 401(k) Audit Threshold? What Financial Advisors Should Be Watching Before Year-End

Picture of Karlie Johnson, CPA Karlie Johnson, CPA: April 28, 2026

If you work with retirement plan sponsors, you have likely heard a version of this before: “We just found out we need a 401(k) audit. No one saw this...

Audit
Read More