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taking my refund (1 viewing) (1) Guest
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TOPIC: taking my refund
#7169
William (User)
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taking my refund 7 Years, 7 Months ago Karma: 0  
I received a letter from the IRS which states that i owe them ~$4k in back taxes penalties and interest due to a calculation error on my return. If i file my income tax return and claim a refund prior to settling the $4k matter, will the IRS automatically take my refund or not until i agree to the amount? I would like to get the refund now as i need it and then make payments to the IRS for the $4k.
 
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#7174
tbm1231 (User)
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Re:taking my refund 7 Years, 7 Months ago Karma: 0  
What letter did you receive? If the letter you received was a "CP 2000 Notice" then its simply a proposed assessment and you will have to agree to it in order for it to be enforceable and for the IRS to seek to claim your refund to pay back taxes.
 
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#7325
William (User)
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Re:taking my refund 7 Years, 5 Months ago Karma: 0  
Actually, the letter number was a CPA 504 and i am still on extension and my tax preparer said that as long as it appears that I owe the IRS, they will hold my refund. So, i need to clear up the tax matter/lien before i file my taxes. Will they do an installment agreement so that i can pay it over the remainder of the year?
 
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