I was due a refund but I owed as well. I filed late with ext and was assessed a penalty. I paid the penalty. How long do I wait for my refund?

[DoninGA]

It is not possible for you to have taxes owed and receive a tax refund on tax return.  It is one or the other, not both.

Please explain why you think you are receiving a tax refund if you have taxes owed.  Or are you only referring to the failure to file penalty?

[evanescence99]

Im referring to the penalty, which I did pay. It was 53 bucks which I payed about 4 weeks ago. I want to know an estimate of how long it will take to see this refund that I am due? I filed my taxes at the beginning of Oct. I did apply for an ext in April. Will this take longer since this is not the filing season? Sorry that I sound like a novice but this is my first time filing late.

[DoninGA]

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@evanescence99 wrote:

Im referring to the penalty, which I did pay. It was 53 bucks which I payed about 4 weeks ago. I want to know an estimate of how long it will take to see this refund that I am due? I filed my taxes at the beginning of Oct. I did apply for an ext in April. Will this take longer since this is not the filing season? Sorry that I sound like a novice but this is my first time filing late.

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Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
When calling the IRS do NOT choose the first option re: "Refund", or it will send you to an automated phone line.
So after first choosing your language, then do NOT choose Option 1 (refund info). Choose option 2 for "personal income tax" instead.
Then press 1 for "form, tax history, or payment".
Then press 3 "for all other questions."
Then press 2 "for all other questions."
- When it asks you to enter your SSN or EIN to access your account information, don't enter anything.
- After it asks twice, you will get another menu.
Then press 2 for personal or individual tax questions.
It should then transfer you to an agent.

[Critter]

It is possible that you had an underpayment penalty on the tax return form 1040 line 23  but still had a refund on line 20a ... look at the return ... the amount on line 23 reduced the refund on line 19 thus the overall refund on line 20a.   Usually the IRS processes refunds within 21 days however it can take longer especially at the end of the season when there is a last minute rush.  

[evanescence99]

So I called IRS. Apparently turbo tax advised them that I was sending in some money via schedule 5 but the money wasnt sent in so they took it from my refund. Im so confused because according to turbo tax I had money coming back to me. Im going to have to call and speak with turbo.

[DoninGA]

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@evanescence99 wrote:

So I called IRS. Apparently turbo tax advised them that I was sending in some money via schedule 5 but the money wasnt sent in so they took it from my refund. Im so confused because according to turbo tax I had money coming back to me. Im going to have to call and speak with turbo.

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IRS Form 1040 Schedule 5 is part of your federal tax return that was sent to the IRS.  The Schedule 5 is for reporting Other Payments and Refundable Credits which reduces your tax liability.  The amounts entered on Schedule 5 are entered by the user of the software.  If you mistakenly entered amounts for either estimated taxes paid, taxes paid with an extension request or an amount paid with a 2017 federal tax refund, then TutboTax has no way to know if what was entered is correct or not.  The total from Schedule 5 flows to your Form 1040 Line 17 as taxes paid or credits.  If that amount is incorrect then it will have a Direct effect by either reducing or eliminating any tax refund so that instead of a refund you will have taxes owed.

IRS Form 1040 Schedule 5 - https://www.irs.gov/pub/irs-pdf/f1040s5.pdf

So look at your tax return Form 1040 and Schedule 5.  What is shown on Schedule 5?