Credit showing on IRS transcript. Can I claim on my 2022 return?

[mberthiaum0130]

I have a credit from overpayment of taxes last year and it shows on my IRS transcript:

--- ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT ---
ACCOUNT BALANCE: -1,074.78
ACCRUED INTEREST: 0.00 AS OF: Apr. 26, 2021
ACCRUED PENALTY: 0.00 AS OF: Apr. 26, 2021
ACCOUNT BALANCE
PLUS ACCRUALS
(this is not a
payoff amount): -1,074.78

Can I simply claim this amount as  Other Income Tax Paid ?  Trying to figure out the easiest way to get this refunded to me. 

[VolvoGirl]

No.  Each year is separate.   You need to ask the IRS.   Maybe it's a tax due not a refund.   If it was a refund the IRS would have sent it to you.  Or did you send in any estimated payments?

What did your last tax return say for refund or tax due?   Did you apply a refund to the next year as an estimated payment?

[mberthiaum0130]

Thanks for the quick reply. I know it is a credit because it is actually a refund of a penalty we had paid that the IRS ended up removing. I assumed it would be sent back, but it’s shown as a credit since last April.  Just trying to figure out how to get them to actually send the payment without spending hours on the phone waiting to speak with someone. 

[ErnieS0]

You will have to call the IRS at 1-800-829-1040. The money is probably credited to 2020 so you would not get credit on your 2021 return.

You can call the IRS and ask them to move it, in which case it could be credited to 2021 and you can get it back as part of your 2021 refund. But it's probably just easier to ask them to send the refund.

It's also possible they will do this automatically. Sometimes it takes a long time. You did not say how long its been since the IRS removed the penalty.

[Jymani_2]

I filed an amended tax return for 2019 but haven’t received any notices since I sent all the information the IRS requested. Also I haven’t received my taxes for 2019 but on my transcript for 2019 I can see a credit that I’m supposed to be be receiving. Who can I talk to? I’ve tried calling so many numbers but no luck. 

[DianeW777]

You can try the following two options. The IRS has such a backlog which creates a difficult process for everyone. However they are the agency where you need to get your answers.

• Taxpayer Advocate Service (TAS).  They are in place to assist in situations where you are unable to obtain resolution on your own.
  1. You can click here to begin: TAS Qualifier Tool. or 
  2. Submit a request for assistance - Form 911 Request for TAS Assistance (instructions are included)
  3. Locate the local TAS Office for your area

This will get the process started for you.  It's not going to be a fast process because they are handling a large volume at this time.   If you do not hear from TAS within one week of submitting Form 911, contact the Taxpayer Advocate office where you originally submitted your request. Incomplete information or requests submitted to a Taxpayer Advocate office outside of your geographical location may result in delays.

• You can contact your local IRS office to make an appointment.  Local IRS offices 

[alokus]

I have exactly the same issue as reported by mberthiaum0130 and for the same year. The IRS 1800 number is not of any help since it is just impossible to get the call through to an IRS call agent. So I am repeating the same question that how can we claim the credit on ACCOUNT BALANCE PLUS ACCRUALS from year 2021 (for form 1040 of 2020) in turbo tax return filing for this year (form 1040 of 2021)?

Or if the above is not possible then can we file another 1040X ammended return for year 2020 to claim the credit which has unfortunately not been refunded by IRS till date?? 

Or is there any other way out???

Please help.

[JulieS]

No, you can not claim a credit for refunds from a different year that the IRS has not paid yet, on your TurboTax return. 

I would not recommend filing an additional amended tax return either. 

As @DianeW777 suggests contacting the Taxpayer Advocate Service may help. 

Click here for more information.

[jjdeely80]

My Transcript 2020 shows a negative balance which I understand is a credit. I would like to transfer this credit into my tax year 2022. How do I do this?

[NCperson]

@jjdeely80 - before too long, the IRS will either use the money to pay off anything outstanding for 2021 tax year or send you a check. 

Personally with all the backlogs and headaches required to contact the IRS, hope they just send you the money and be done with it.

  If you want to then turn around and make an estimated payment for the same amount to be applied to your 2022 tax year, that might be a better way to go so that you minimize interaction with the IRS - where things can go very wrong. 

Has your 2021 tax return been processed yet? 

[t2t2t]

Did you receive your prior year credit from the IRS?

I am still waiting for 2020 refund. I filed 2020 return electronically using turbo tax in June 2021 requesting refund. Return has been processed and correct refund amount shows as a credit on my IRS account, but the refund has not been issued. In October 2022 I filed my 2021 tax return, and that return has been processed, but credit balance from previous year was not applied. Why has the IRS not issued my refund from prior year? 

[fanfare]

"Why has the IRS not issued my refund from prior year? "

You have to contact IRS to find out what is going on.

OR

file the form to trace a damaged or lost refund check.

@t2t2t 

[jjdeely80]

Can you send an address or telephone number for me to contact IRS  about this problem. Also can you send the form necessary to submit for a lost or damaged return

[jjdeely80]

 an you send me the form to file  to trace a damaged or lost refund check.

[DoninGA]

---

@jjdeely80 wrote:

 an you send me the form to file  to trace a damaged or lost refund check.

---

Go to this IRS website for a lost tax refund check - https://www.irs.gov/faqs/irs-procedures/refund-inquiries/refund-inquiries-0