JackieCPA Posted April 16, 2020 Report Share Posted April 16, 2020 With everything now - I have a lot of clients that asked for their refunds to be applied forward wanting to actually get the refund instead. Their returns already being filed - is there a way to do this? Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted April 16, 2020 Report Share Posted April 16, 2020 Have your clients call this number 800-829-1040. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 16, 2020 Report Share Posted April 16, 2020 If you choose to have an overpayment of tax credited to your estimated tax, you can’t have any of that amount refunded to you until you file your tax return for the following year. You also can’t use that overpayment in any other way. https://www.irs.gov/publications/p505#en_US_2019_publink1000194714 2 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted April 17, 2020 Report Share Posted April 17, 2020 Once efiled and applied I do not think you will get it until you file next year. Someone might know a way. Quote Link to comment Share on other sites More sharing options...
Pacun Posted April 17, 2020 Report Share Posted April 17, 2020 how about 1040X? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 17, 2020 Report Share Posted April 17, 2020 It won't be "new" refund on 1040X. It's already applied based on original 1040. Quote Link to comment Share on other sites More sharing options...
Pacun Posted April 17, 2020 Report Share Posted April 17, 2020 How about another 1040 that will supersede the current filing? We have until July 15th to file. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 17, 2020 Report Share Posted April 17, 2020 You can't e-file a superseding return, and the IRS is NOT processing paper returns. Quote Link to comment Share on other sites More sharing options...
Pacun Posted April 17, 2020 Report Share Posted April 17, 2020 8 minutes ago, Lion EA said: You can't e-file a superseding return, and the IRS is NOT processing paper returns. It was just a thought. The IRS is accepting paper returns and they will be processed in August the the post marked stamp will stand, correct? But it is good to know that once you applied a refund for next year, it is hard or impossible to get it back. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 17, 2020 Report Share Posted April 17, 2020 I thought the IRS said to NOT mail any more returns. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted April 18, 2020 Report Share Posted April 18, 2020 I've only heard that they are not processing any mailed returns cause there is no one there to handle them. However, they are processing EFTPS enrollments. Just finished one tonight that was applied for last week. I had a client mail a trust return certified mail with return receipt. That was two days before the announcement by the IRS that trust return filing deadline had been extended as well. That's twice the IRS has gotten me this year. I did inform the client that the mailing receipt with the tracking number was evidence of the mailing in the event it gets lost. After this mess is over, I feel there will be another jumbo mess coming. Am I the only one???? 1 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 18, 2020 Report Share Posted April 18, 2020 What are they going to do with paper-filed 941s and people that have sent in payments by check? 1 Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted April 18, 2020 Report Share Posted April 18, 2020 I heard they were marking the pallets with that date!! Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted April 19, 2020 Report Share Posted April 19, 2020 On 4/16/2020 at 10:15 AM, JackieB said: With everything now - I have a lot of clients that asked for their refunds to be applied forward wanting to actually get the refund instead. Their returns already being filed - is there a way to do this? Short answer - NO Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 20, 2020 Report Share Posted April 20, 2020 On 4/17/2020 at 6:17 PM, Terry D said: However, they are processing EFTPS enrollments. That is a whole different department, and I believe the process is basically automated. Quote Link to comment Share on other sites More sharing options...
Randall Posted April 21, 2020 Report Share Posted April 21, 2020 On 4/17/2020 at 5:02 PM, Lion EA said: I thought the IRS said to NOT mail any more returns. I thought I read somewhere in all this for people to go ahead and mail paper returns, they just wouldn't be processed yet. Quote Link to comment Share on other sites More sharing options...
Randall Posted April 21, 2020 Report Share Posted April 21, 2020 On 4/16/2020 at 10:31 AM, ILLMAS said: Have your clients call this number 800-829-1040. Is this perhaps a special consideration under the current circumstances? Quote Link to comment Share on other sites More sharing options...
Roberts Posted April 21, 2020 Report Share Posted April 21, 2020 The fax numbers for getting Power of Attorney have been busy for weeks. If they aren't going to process the mailed in forms - how are we supposed to get transcripts to file a return for last year? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 21, 2020 Report Share Posted April 21, 2020 It's too bad that not enough tax pros used the eservices POA feature, so the IRS eliminated it. Would be really handy right now. I really, really miss EAR, too. 1 Quote Link to comment Share on other sites More sharing options...
Max W Posted April 25, 2020 Report Share Posted April 25, 2020 One thing that I am 100% sure is that the checks are being processed. That was the one thing that got done during the 5 week budget shutdown and the gov't needs the money now more than ever. 1 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted April 25, 2020 Report Share Posted April 25, 2020 On 4/21/2020 at 10:09 AM, Randall said: I thought I read somewhere in all this for people to go ahead and mail paper returns, they just wouldn't be processed yet. Anything paper filed, will take at least a year to be processed. IRS is renting trailers to store all paper returns, until this virus thing is over. Paper filing will mean extremely long wait for it to be processed. Quote Link to comment Share on other sites More sharing options...
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