Tuesday, August 24, 2010

My husband and I owed taxes this year, quite a bit more than the tax refund that everyone is getting. My?

question is, why did we get a partial refund directly deposited to our account when we haven't even started paying on the taxes? Should we be worried that the IRS will take it back out of our account?My husband and I owed taxes this year, quite a bit more than the tax refund that everyone is getting. My?
The IRS will not take it back out of your account, but as another person mentioned, you should immediately call and follow the instructions the representative gives you.My husband and I owed taxes this year, quite a bit more than the tax refund that everyone is getting. My?
If you have received a refund from the IRS and you also have a balance due you may have what is called an ';erroneous refund';. This is rare but it does happen. You should call the IRS at 1-800-829-1040 between 7 a.m.- 7.p.m. M-F. Ask for ';Advanced Accounts';. Allow 20 minutes for the call. Be sure to stress that it is an IRS error or you may actually be billed for interest charges on the amount deposited from the deposit date to the payback date. If it appears that you have reached an entry level employee diplomatically ask if their team leader (like a roving supervisor) is available.

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