- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
It would have to involve the specific kind of error the IRS found with your 2014 tax return. I don't know exactly what the error was, but Turbo Tax is designed to catch just the most basic types of mistakes and errors that are commonly made by tax payers when filing their returns. If the IRS has determined an error was made with your 2014 tax return, resulting in monies now owed, you will be the one responsible to pay the balance owed. The letter you received from the IRS should include your rights to appeal their decision if you disagree. If you're unable to pay the balance owed all at once due to limited income or financial hardship, the IRS will work with you and can arrange to set you up on a payment plan that is convienent and affordable for you to repay the money in installments (for example $20 per week or $20 per month, until the balance is paid in full) Whatever installment amounts work for you. However, keep in mind, the IRS does penalise interest for payment plans.
I'm sorry to hear about your situation. I experienced a similar situation with my 2012 tax return that I filed using Turbo Tax. I'm still making monthly payments to pay off the balance and the IRS kept my 2013, 2014 and 2015 Tax Refunds to apply to my balance.