Yes, when you owe the IRS back taxes (topic 201), the IRS will subtract the taxes you owe from your current year refund and then they will deposit any leftover amount to your account (if you selected direct deposit). A few weeks later you will get a letter in the mail confirming how much they took and applied to your back taxes.
Yes, when you owe the IRS back taxes (topic 201), the IRS will subtract the taxes you owe from your current year refund and then they will deposit any leftover amount to your account (if you selected direct deposit). A few weeks later you will get a letter in the mail confirming how much they took and applied to your back taxes.
They gave me a date for March 20 will i receive it that day
When its the IRS that you owe money to, they are usually pretty efficient in processing the offset and paying the refund. But, whenever there is an offset involved, there is always the potential for a delay (usually a few business days), so I would plan on there being a delay just to be safe.