I am entitled to a large federal refund but still owe a small amount to federal for last year and a large amount to the state for last year. Will the state take their share out of my federal return or will it be my responibility to cut the state a check once I recieve my federal return? Will any of this effect how fast I can get my refund?
2007-03-15 07:55:31 · 6 answers · asked by 13baseball31 1 in Business & Finance ➔ Taxes ➔ United States
Everyone else is right. Just happened to me. I owed about $2000 due to a honest boo-boo. This year they took my total refund and asked me to pony up the $200 or so I still owe. However, according to the letter I received from the IRS if I had had any funds left over after they got theirs I would have received it. Nothing you can do about it. Sucks, cuz I am on disability and could really have used the funds. But its all for the best, I would really rather not owe the IRS. Oh yeah, this whole process will delay you receiving your funds for awhile. You can check on the the status on IRS.gov. If you get a message like "call us for more information, your refund has been delayed" than they got your money.
2007-03-15 08:16:44 · answer #1 · answered by pepper_0713 2 · 0⤊ 0⤋
I think the feds will take what you owe them out of this year's refund. You will have to cut a check to the state for your back taxes to them. Do it quickly, the penaties can be ferocious.
2007-03-15 07:59:43 · answer #2 · answered by Sam Fisher 3 · 1⤊ 1⤋
They will probably intercept it, take out what you owe and also delay the remainder of the refund.
2007-03-15 07:58:35 · answer #3 · answered by Sheila 6 · 0⤊ 2⤋
Uncle Sam will take his owed money up front. It will be up to you to pay your state taxes.
2007-03-15 07:58:28 · answer #4 · answered by skwonripken 6 · 0⤊ 1⤋
They will first deduct what you owe them plus interest.
2007-03-15 08:01:17 · answer #5 · answered by idak13 4 · 1⤊ 0⤋
they keep what you owe and you get the rest
2007-03-15 07:59:08 · answer #6 · answered by BLOODHOUND 6 · 1⤊ 0⤋