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sidz82
Level 2

Will I get a refund if I pay excess tax?

I have filed extension request with IRS. I am planning on making a payment of the tax I owe to IRS by May 17. However, I am not exactly sure yet on how much I owe. I want to err on paying more tax than I owe rather than falling short and incur penalty or late fee.  In the event I pay excess tax than I owe, will IRS refund me the money when I file my returns in October? Also, if I pay using credit card, will they chargeback to card or issue a refund to my checking account as they typically do.
1 Best answer

Accepted Solutions
ToddL99
Expert Alumni

Will I get a refund if I pay excess tax?

Yes, if you pay the IRS more than what your final tax liability turns out to be, they will refund the difference. This is common when you make a too-large payment with your extension.

 

Any refund you get will be by paper check or direct debit to your bank, whichever method you choose when filing your return - they will not put it back on your credit card.

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2 Replies
ToddL99
Expert Alumni

Will I get a refund if I pay excess tax?

Yes, if you pay the IRS more than what your final tax liability turns out to be, they will refund the difference. This is common when you make a too-large payment with your extension.

 

Any refund you get will be by paper check or direct debit to your bank, whichever method you choose when filing your return - they will not put it back on your credit card.

View solution in original post

sidz82
Level 2

Will I get a refund if I pay excess tax?

Thanks. Appreciate the response.

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