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jq80458

Can I receive a tax refund if I owe for a prior year's federal taxes since I am currently making payments under an installment agreement or payment plan?

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Answered by Kelly Jones
0 Upvotes

No, one of the conditions of your installment agreement is that any refund due to you, the IRS 
will automatically apply against taxes you owe. Because your refund isn't applied toward your regular 
monthly payment, continue making your installment agreement payments as scheduled until you pay 
your liability, including accrued penalties and interest, in full. If your refund exceeds your total balance 
due on all outstanding liabilities including accruals, and you don't owe certain past-due amounts, such 
as federal tax, state tax, a student loan, or child support, you'll receive a refund of the amount over and 
above what you owe.  
jca69035
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Written 3 years ago
 
 
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