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Level 1
posted Sep 29, 2024 8:38:13 AM

I overpaid the IRS. How long does it take for the money to get refunded to my bank account?

0 5 10564
5 Replies
Level 15
Sep 29, 2024 8:46:59 AM
Level 9
Sep 29, 2024 10:49:31 AM

Do you mean that you owed the IRS and paid more than you owed?  Please explain exactly what is going on.

 

Level 1
Sep 29, 2024 11:30:27 AM

Hi,

 

I seen an old notice on my IRS account for a payment due. The due date of this payment was in 2021 but it was for the 2020 tax year. There was an initial payment in the 2020 tax year that I submitted but unfortunately it was unable to get fully processed. Since the payment for the 2020 tax year was unable to get fully processed, I got a follow up notice that accrued interest from that initial payment

 

I thought that the initial payment and accrued interest payment were consecutive payments, so I submitted payments for them separately as of September 2024.

 

However, I realized that the initial payment and the accrued interest on the notice are concurrent to each other.

 

Long story short, I didn't fully comprehend the notice as I should have and realized that the balance due in 2021 for the 2020 tax year was paid already before the due date of the notice. I got the years mixed up and payments confused, and overpaid too much. 

 

 

 

I hope this helps.

Level 15
Sep 29, 2024 11:42:42 AM

Contact the IRS at 1-800-829-1040 or Try the Tax Advocate

Home - Taxpayer Advocate Service (TAS) - Taxpayer Advocate Service

Level 1
Sep 29, 2024 11:44:22 AM

Ok,

Thank you 🙂