Hello All
I started doing my taxes with turbotax in 2023. We have a nanny/household employee. I pay her and taxes through a nannytax company.
in 2023, I didnt know better and forgot to include "estimated payments" of almost 12K worth of taxes I paid into my household employee.
In 2024, I asked some questions on this chat and found that I needed to include my quarterly payments and schedule H in box 26 of my 1040. This obvioulsly made a different on my refund especially when its over 12K worth being paid out.
I didnt even realize I didnt give myself that "deduction" in 2023 until I just got this letter. It says that they are applying 4 payments (quarterly_ to my account but it doesnt say in the letter anything more about owing anything or a refund either. When i logged into the irs website, it doesnt say anything about balance due or refund there either. It just says that if i dont owe other taxes, penalties, interest, or legal obligations, they (IRS) is required to collect or they will send me a refund for overpayment within six to eight weeks.
I guess im just really confused on what I am supposed to do next or what to expect since the letter gives me no other detail about what is owed or what is refunded.
Anyone experience this? Thoughts?
Thx!
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Since the letter doesn't mention a balance due, and IRS website indicates they'll send a refund overpayment within 6-8 weeks if you don't owe other taxes, it sounds like you're likely due a refund.
You can wait for the refund to arrive, or contact the IRS directly at the number on your letter to get more information before then.
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