An "overpayment" means that the total tax payments that you made in 2023 in the form of withholding from a paycheck, or other payment, and any other payments that you made such as "Estimated Payments" plus any prior year refunds made to you in 2023, all totaled to more than you now owe for 2023. You can choose to have all of the overpayment refunded to you by transfer to your bank account (fastest method) or paid to you by a check mailed to you (slowest method) or alternatively you can choose to have some or all of that overpayment applied as payments toward your 2024 taxes.
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67
NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3
- Just donating my time
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