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March 7, 2023
Question

If I owe from the previous tax year does the IRS deduct and then deposit what is owed the current year?

  • March 7, 2023
  • 1 reply
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What if I owe taxes

1 reply

DoninGA
Employee
March 7, 2023

If you owe federal income taxes for a prior tax year the IRS can seize your current year federal tax refund and apply that amount to the taxes owed plus any penalties and interest.  If there are fund remains from the refund the IRS will send you the remaining refund.  If the refund does not satisfy the debt the IRS will send you a bill in the mail for the remaining amount owed.