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10
Things Taxpayers Need to Know About
Getting a Tax Refund from the IRS |
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1. |
A taxpayer has the right to file a claim for a credit or refund, after making tax payments to the IRS. Taxpayers can request a tax credit or a tax refund by filing Form 1040X (in the case of individuals) or Form 1020X (in the case of corporations). | ||
2. |
A taxpayer can request a copy of a prior filed tax return from the IRS by using Form 4506. | ||
3. |
A taxpayer can also obtain a copy (transcript) of the tax account for an individual income tax return. A transcript can be requested from a taxpayer's local IRS office. The transcript will provdie information on the type of return file, marital status, the tax shown on the return, adjusted gross income, taxable income, self-employment tax, and the number of exemptions. | ||
4. |
Generally, a taxpayer must file a claim for a credit or refund within 3 years from the date the original tax return was filed or 2 years from the date the tax was paid, whichever is later. | ||
5. |
If a taxpayer files a claim within 3 years after filing a return, the credit or refund cannot be more than the part of the tax paid within the 3 years (plus any extension of time for filing the return) before the claim is filed. | ||
6. |
If a taxpayer files a claim after the 3-year period, but within 2 years from the time the tax is paid, the credit or refund cannot be more than the tax paid within 2 years immediately before the claim was filed. | ||
7. |
Special rules are provided for a bad debt, a worthless security, a payment or accrual of foreign tax, a net operating loss carrback, or a carryback of certain tax credits. See section 6501 of the IRS code. | ||
8. |
Claims are usually processed shortly after they are filed. A taxpayer's claim may be accepted as filed or it may be examined. | ||
9. |
If a claim for credit or refund is based only on a contested income tax or on estate tax or gift tax issues consdered in previously examined returns, a taxpayer does not have to appeal to the IRS for the refund. The taxpayer can request in writing that the claim be immediately rejected. A notice of claim disallowance will then be promptly sent to the taxpayer who then has 2 years from the date of mailing of the notice of disallowance to file a refund suit in the US Distrcit Court in the US Court of Federal Claims. | ||
10. |
A refund may be reduced by an additional tax liability, past-due child support, or debts owed to another agency. A taxpayer cannot use the appeal and refund procedures for those reductions. | ||
Brought to you by Alvin Brown and Associates, attorney at law, former Supervisory Manager and Tax Attorney-Advisor, Internal Revenue Service, Office of Chief Counsel, Internal Revenue Service. Email: info@irstaxattorney.com. |
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