tax refund
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tax refund
I seem to have recieved more money from the IRS then what my cpa told me i would recieve for my federal return.
Did this happen to anyone ? did the irs make a mistake?
Do they take the money back if they realize they made the mistake?
Did this happen to anyone ? did the irs make a mistake?
Do they take the money back if they realize they made the mistake?
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Joined: Oct 2000
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From: Napa
Was it 300 more? The stimulus check you got was based on 2007 taxes, but that was an estimate of 2008. When they got your 2008, you may have been owed more, if your income was was less, you had a new dependent etc.
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From: Connecticut
Three scenarios:
CPA messed up and the IRS caught it. They would send you a letter noting the error.
IRS messed up and didn't catch it. They will ask for the money back eventually.
You were owed the money from a past year.
CPA messed up and the IRS caught it. They would send you a letter noting the error.
IRS messed up and didn't catch it. They will ask for the money back eventually.
You were owed the money from a past year.
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Joined: Oct 2000
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From: Napa
More scenarios:
1. You didn't tell your CPA how much you got in your stimulus check, so he/she was not able to add it to your return. (very common in my experience)
2. You had back-up withholding from some source (interest, dividends etc) that was not put on your return for any number of reasons.
Unlikely that IRS messed up and gave you more $ in error, but it happens.
If you were owd the money from a past year, they would never include it in a refund check for the current year, unless the overpayment was applied to 2008 intentionally.
1. You didn't tell your CPA how much you got in your stimulus check, so he/she was not able to add it to your return. (very common in my experience)
2. You had back-up withholding from some source (interest, dividends etc) that was not put on your return for any number of reasons.
Unlikely that IRS messed up and gave you more $ in error, but it happens.
If you were owd the money from a past year, they would never include it in a refund check for the current year, unless the overpayment was applied to 2008 intentionally.
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From: sunny suisun
Originally Posted by Fear Itself,May 8 2009, 10:29 AM
Also, if the IRS made a mistake and over paid you, when they come to collect they will want interest in addition to the principal amount.
David
David
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From: Baltimore
if you got more than $200 back you should adjust your W-4 withholdings. i got tired of giving uncle sam thousands of dollars of interest free loan, so i went to the IRS site and unsurprisingly they said i need to increase my withholding number to 15 from 4...