If I owe money from last year but I get a refund this year will the irs just deduct what i owe from last year from my refund this year? I already filed.
2007-01-31 02:01:42 · 8 answers · asked by ignyte 2 in Business & Finance ➔ Taxes ➔ United States
Yes. First they will take out what you owe them, and if there is anything left over, then you'll get a refund!
2007-01-31 02:09:47 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes they will. Remember this can also delay your refund a little. Now, interest and penalties should stop as well.
If you filed your taxes through an agency that doesn't get paid for doing your return until the IRS drops the money, and your refund doesn't cover your back taxes and preparation fees, it is possible you will still have a debt to your tax firm.....
good luck & blessing
2007-01-31 02:13:14 · answer #2 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
i'm undecided you comprehend merely what a reimbursement is. in the path of the three hundred and sixty 5 days think ofyou've have been given money withheld out of your paycheck for federal earnings tax. on the tip of the three hundred and sixty 5 days, you prepare a sort observed as a tax return to calculate how lots tax you owe entire for the three hundred and sixty 5 days, and evaluate that to what substitute into withheld. in case you had greater withheld than your finished tax, you get the greater advantageous back as a reimbursement. in case you probably did not have sufficient withheld, you may pay something incredibly than getting a reimbursement. a reimbursement isn't some form of bonus the government gives you for working. it incredibly is like in case you went to WalMart and offered $sixteen incredibly worth of things, yet gave the cashier a $20 invoice. you may get a "refund" of $4, despite if it incredibly is not them providing you with something, it incredibly is merely getting your individual money back. It seems such as you merely did not have sufficient taken out. With claiming 2 allowances, you are going to be incredibly close, yet could owe a dash. the better earnings might finally end up with greater taken out, yet possibly not extremely sufficient.
2016-10-16 08:55:48 · answer #3 · answered by ? 4 · 0⤊ 0⤋
If you have not paid from last year the IRS will deduct the amount you didn't pay plus interest and penalties from this years refund.
2007-01-31 02:39:58 · answer #4 · answered by Gypsy Girl 7 · 0⤊ 0⤋
They did not for me, they direct deposited exactly what I was owed for 2006. But I wrote a check and mailed it to them for what I owed for 2005. Yew, feels good not to have to worry about that anymore.
2007-01-31 02:38:04 · answer #5 · answered by TCM 3 · 0⤊ 0⤋
i owe the state and federal 1100
2007-02-01 12:41:29 · answer #6 · answered by nicosdad 1 · 0⤊ 0⤋
Yep, that's exactly what they'll do.
2007-01-31 02:08:29 · answer #7 · answered by Bostonian In MO 7 · 3⤊ 0⤋
oh yes they will and interest................
2007-01-31 02:11:16 · answer #8 · answered by MJ 6 · 0⤊ 0⤋