I just filed my taxes for last year. I don't really want to hear about me loaning the government free money - whatever - irrelevant - I know...
Anyway, I filed my taxes and I calculated a refund of but I got $67.81 -more- back... What gives?
Does the IRS actually give you interest? It seems slightly high if they did. More than likely it's a mistake? But the IRS does give refunds in sub-dollar range. They round up or down don't they?
2007-10-25 11:15:01 · 9 answers · asked by Eric L 5 in Business & Finance ➔ Taxes ➔ United States
Well I used H&R block online to file my taxes. I guess it's still possible I miscalculated but I recalculated several times.
I also got an electronic transfer so no check, but I'll keep an eye in the mail. If I don't hear anything I'll contact the IRS office. The last thing I need is the IRS charging me fees and interests for their mistake... do they do that?
2007-10-25 11:27:28 · update #1
Here is from IRS publication 17: Your Individual Income Tax.
If you receive a check for a refund you are not entitled to, or for an overpayment that should have been credited to estimated tax, do not cash the check. Call the IRS.
If you receive a check for more than the refund you claimed, do not cash the check until you receive a notice explaining the difference.
If your refund check is for less than you claimed, it should be accompanied by a notice explaining the difference. Cashing the check does not stop you from claiming an additional amount of refund.
If you did not receive a notice and you have any questions about the amount of your refund, you should wait 2 weeks. If you still have not received a notice, call the IRS.
2007-10-26 01:01:30 · answer #1 · answered by MukatA 6 · 1⤊ 0⤋
I know you said you received the money electronically, but I wanted to respond because someone mentioned that you should cash the check and enjoy it. I do not recommend cashing a refund check you are not expecting. You should call the IRS at 1-800-829-1040 to find out why it is different. The IRS makes mistakes all of the time. If the IRS messes up and sends you too much, they might correct it later and come asking for their money back plus interest. I have seen it happen.
2007-10-25 13:52:55 · answer #2 · answered by JaretR72 2 · 0⤊ 0⤋
some thing isn't clever here. The "different letters" might have been despatched over a volume of time longer than 4 weeks. you does not owe $2000 on earnings of $1300 that became in basic terms final 365 days. Over a good number of years it would desire to upload as much as that, yet no longer one 365 days. The letter ought to assert what 365 days that is for, does it say 2010? Does it quite say that is for the corporation? How does it say to pay the $2000? i'm thinking if that is relatively from the IRS in any respect, or in basic terms some sort of rip-off. Get out your replica of your return from final 365 days. Take it and the letter to the closest IRS place of work and ask them to describe it to you. in case you nevertheless do no longer comprehend what's taking place, stumble on a CPA or enrolled agent immediately and teach all of it to them. If that is relatively from the IRS yet is a mistake, no you will no longer might desire to pay the $2000 regardless. good luck.
2016-10-14 01:09:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Call IRS at 1-800-829-1040 or 1-800-829-0922 they should be able to let you know why your refund was more that you anticipated. If it was an error in IRS calculations, they will request the full amount back.
2007-10-25 13:48:03 · answer #4 · answered by Ms. Angel.. 7 · 0⤊ 0⤋
IRS will give individuals interest. There could also be a computation error on your return and they went ahead and corrected it and refunding you the extra with interest. Look on the check and there might be an indication of the interest amount. Also, if the IRS made changes to the return, you will receive a separate letter with explanation.
So, go ahead and cash the check and enjoy the little "bonus". Just remember, if there is interest, it's taxable to you on the federal level. :)
2007-10-25 11:22:23 · answer #5 · answered by IRENE THE BOOKIE 3 · 2⤊ 1⤋
Yes, the IRS does actually pay you interest if you file late, however, there are usually penalties to be paid for filing late.
2007-10-26 08:42:59 · answer #6 · answered by Gypsy Girl 7 · 0⤊ 1⤋
After 4/15 they pay interest
2007-10-25 15:57:38 · answer #7 · answered by Scott K 7 · 1⤊ 0⤋
This happened to me with state taxes. I called and asked and they told me I made a miscalculation and they corrected it for me. Check your math, perhaps you made a miscalculation.
2007-10-25 11:19:49 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You should get an adjustment notice explaining the difference.
2007-10-25 11:35:41 · answer #9 · answered by Anonymous · 2⤊ 0⤋