topic I amended my taxes from 2016 and it looks like the IRS overpaid me. Do I have to pay interest when returning the money. in Get your taxes done using TurboTax

I amended my taxes from 2016 and it looks like the IRS overpaid me. Do I have to pay interest when returning the money.

intertax — Thu, 15 Oct 2020 09:24:22 GMT

I amended my taxes from 2016 after it came to my attention I used the wrong forms and it looks like the IRS overpaid me. Do I have to pay interest when returning the money, even though it was a mistake I caught by myself?

Re: I amended my taxes from 2016 and it looks like the IRS overpaid me. Do I have to pay interest when returning the money.

rjs — Thu, 15 Oct 2020 15:52:45 GMT

Do you mean that the IRS paid you more than the refund amount shown on your amended return? When did you get the payment? If it was very recently, just wait a few weeks. You should get a letter from the IRS explaining how they calculated the amount that they sent you. The amount that they sent you probably includes interest that they have to pay to you on the refund, because you were really entitled to it in 2017.

Re: I amended my taxes from 2016 and it looks like the IRS overpaid me. Do I have to pay interest when returning the money.

VolvoGirl — Thu, 15 Oct 2020 15:56:19 GMT

I think it means his original return had a refund and he owes some back on the amended return. The IRS will send you a bill for any interest.