2006-12-27 07:30:25 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The goverment said they overpaid me and this was years ago and now they want the money back.
2006-12-27 08:03:33 · update #1
Overpayments of what?
2006-12-27 07:35:00 · answer #1 · answered by jseah114 6 · 1⤊ 0⤋
Overpayments for what? Can you provide more detail?
If you overpay your taxes, you'll get the overpayment back as a refund.
If you're overpaying a bill that's deductible, probably not, but maybe, it depends on the circumstances.
2006-12-27 07:36:00 · answer #2 · answered by Judy 7 · 0⤊ 1⤋
If it is for personal income tax, you will probably be able to claima deduction on your state tax return, but you cannot claim a deduction on your federal return for personal federal taxes paid.
If it was for something like employment taxes and you are on cash basis, you can deduct it on schedule C.
2006-12-27 11:20:03 · answer #3 · answered by skip 6 · 0⤊ 0⤋
If you are on a cash basis, certain overpayments may be deducted., if not an abuse.
But it wil catch up with you the next year.
2006-12-27 07:33:11 · answer #4 · answered by Anonymous · 1⤊ 1⤋
You didn't say what they overpaid you for. If you didn't pay taxes on the payments when received, you can't deduct repayments. If you did pay taxes, it depends.
2006-12-27 10:39:59 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋