How long does it take to for you to get the remainder of your income tax money?
2007-02-22 18:37:08 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
The IRS does NOT hand your refund over to ordinary creditors. Your tax refund can only be captured for very specific debts. Tax debts, debts to government agencies, defaulted student loans and unpaid child support are the ONLY things your refund can be taken for. If your refund is subject to offset, you will be notified by the IRS and FMS of the amount of the debt and that any tax refunds will be used towards that debt.
An offset typically adds a couple of weeks to the processing of your return. If there is any balance due to you after the offset, it will be sent to you.
2007-02-22 23:56:57 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Bostonian hit the nail on the head and is exactly right. I am a Tax Preparer and had my own refund snagged by the IRS last year due to a debt I didn't know I owed the Veterans Administration. It only delayed it by a couple of weeks and I got the balance after the VA got their part.
2007-02-26 21:34:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you owe a Federal debt such as child support or student loans on which you have defaulted, you can call (800) 304-3107, to see if you have an offset of your Federal return.
good luck & bless
2007-02-23 12:22:30 · answer #3 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
usually within a week of the original disbursement date of your check...if your refund was enough to cover the entire debt..if not obviously there will be no remainder and they will continue to use your refund until it is paid in full
2007-02-23 10:31:44 · answer #4 · answered by kay 2 · 0⤊ 1⤋