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mhath82
New Member

When filing my Oklahoma taxes it said I had an over payment and would I like to apply a portion or all of it to my 2024 taxes. What does this mean

 
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2 Replies
ee-ea
Level 15

When filing my Oklahoma taxes it said I had an over payment and would I like to apply a portion or all of it to my 2024 taxes. What does this mean

Do you want the state to apply your refund to next year's taxes?

Hal_Al
Level 15

When filing my Oklahoma taxes it said I had an over payment and would I like to apply a portion or all of it to my 2024 taxes. What does this mean

Q. had an over payment and would I like to apply a portion or all of it to my 2024 taxes. What does this mean?

A. You have a choice of getting a refund or instead, using all or some of your refund to pre-pay next year's taxes. 

 

Q. Who would want to do THAT?

A. Mostly people who do not have an employer to withhold taxes from their pay.  Think retirees and the self employed. This people have to make quarterly estimated tax payments. Applying your refund is a convenient way of making that first quarterly payment.

 

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