Where's your refund? Possibly making up the federal budget deficit, if you failed to file a return to get an overpayment back within the applicable time period.... Read This Post
If you make a mistake on your tax return, you should file an amended return within the required time period (Treasury regulation 1.451-1(a)). That seems clear enough.
But is it? How familiar are you with amended returns?... Read This Post
What can the IRS do to collect when a refund is issued by mistake? The answer depends on whether the erroneous refund is a “rebate” refund or a “nonrebate” refund.... Read This Post
Image Source: Public Domain, NARA, via Wikimedia Commons T.C. Memo. 2010-63 (Petty) offers a lesson in the perils of failing to file a return within the statutory time frame to claim an overpayment per IRC Sections 6511 and 6512. In this case, the taxpayer made estimated tax payments during 2004. She filed a timely extension for her return, but failed…Read This Post