I owe money from my 2005 tax return and got an extension until the end of Feb. 07. Now that I am about to file my 2006 return I will be getting a hefty refund. Will they automatically deduct the amount owed from last year or will I have to turn around and send them a check anyway?
2007-02-13 09:12:45 · 4 answers · asked by blazenphoenix 4 in Business & Finance ➔ Taxes ➔ United States
They would automatically deduct what you still owe from your current year's refund. If your refund is more than what you owe, they will refund you the difference. If what you owe is more than your refund, they will take the entire refund and the amount you owe will be less.
2007-02-13 09:16:37 · answer #1 · answered by jseah114 6 · 2⤊ 1⤋
Yes, they'll deduct it. In the highly unlikely event that they don't, cut a check and mail it in immediately!
2007-02-13 09:21:39 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Yes and any over payment will be sent to you after the debt is paid in full
2007-02-13 09:17:38 · answer #3 · answered by Anonymous · 1⤊ 1⤋
They will take it straight from your refund
2007-02-13 09:24:02 · answer #4 · answered by shorty 6 · 1⤊ 0⤋