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Instead of requesting a refund, taxpayers can ask the IRS to hold the overpayment and apply it to the taxpayer’s tax liability for the following year. These tax payment credits can result in significant headaches. The recent Schuster v. Commissioner, No. 17-11647 (11th Cir. 2018) case provides an example of why taxpayers should request refunds […]
The post Applying Tax Overpayments to Later Years is Usually a Bad Idea appeared first on Houston Tax Attorneys: Kreig Mitchell.