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Question About IRS

Discussion in 'Non-Vegas Chat' started by VegasGroove, Jan 21, 2015.

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  1. VegasGroove

    VegasGroove VIP Whale

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    Imagine, asking an IRS question on a Vegas board! Love that I can!

    If I owe an amount to the IRS from a previous year, is that amount deducted from the return I file this year and I just receive the balance?

    Thanks in advance.
     
  2. saeldway

    saeldway Low-Roller

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    Not positive I understand your question, but if you're asking if in 2013 you owed $2,000 and your 2014 return (when filed) will have a $3,000 refund if the IRS offsets, then yes. You will receive a refund check of $1,000.
     
  3. letsgotovegas

    letsgotovegas Low-Roller

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    Certainly no expert here, but won't there be interest and penalties from the short pay of the 2013 taxes to consider as well?

    I would guess you wouldn't get a refund unless what is due to you is less than what is due to them.
     
  4. leo21

    leo21 VIP Whale

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    It depends on what arrangements you made for your 2013 obligations. There should've been at least a payment arrangement in place by now. You need to consult a pro.
     
  5. VegasGroove

    VegasGroove VIP Whale

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    This is exactly what I am asking. Thanks, saeldway!
     
  6. nostresshere

    nostresshere Mr. Anti Debit Card

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    Where/how are you filing taxes this year?

    I can not imagine not paying last years taxes. And of course there are the taxes and penalties.
     
  7. Breeze147

    Breeze147 Button Man

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    Always paid my federal taxes, but I screwed up on my Maryland state tax when I retired. They slapped the living shit out of me with penalties. I can't believe that I was so naïve and stupid.
     
  8. FullBoat

    FullBoat VIP Whale

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    I owed taxes a while back when I was doing some sub-contract work, and didn't figure it all out right. Well, they stayed on the books for about 3 years. Just kept forgetting to pay it off. Was about $350 or so. Then 1 year, I saw that my return was a lot less than I thought. Got a letter saying that they deducted what I owed, plus interest/penalty. At least I don't have to worry about it anymore.
     
  9. nostresshere

    nostresshere Mr. Anti Debit Card

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    That was so nice of them to take are of it for you. LOL!
     
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