Discussion:When does IRS start accruing interest on Overpayments
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> When does IRS start accruing interest on Overpayments
Rcataxes@hotmail.com (talk|edits) said: | 1 August 2008 |
| Code Sec. 2401 and 2501 re Treasury authorization of overpayment. Does this also have any relation to date interest starts accruing? | |
| 2 August 2008 | |
| Riley
The OP indicated an overpayment. Should it actually be Sec. 6611? | |
Taxcurmudgeon (talk|edits) said: | 2 August 2008 |
| Yes, it's Sec. 6611. Read it and you'll see that the answer depends upon whether it's a credit, refund or late return. | |
JackTraffic (talk|edits) said: | 4 August 2008 |
| This answer is very unprecise, but as I remember it (from an almost $2M refund request related to an amended return) the interest started accruing when the IRS didnt' process the refund request for, like, three or six months... Then because the amended return was for three years earlier, the taxpayer got three years plus of interest. | |
To join in on this discussion, you must first
log in.
