December 2021
Beginner
928 pages
46h 18m
English
Content preview from J.K. Lasser's Your Income Tax 2022
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CHAPTER 47Filing Refund Claims, and Amended Returns
File a refund claim on Form 1040-X if you want to take advantage of a retroactive change in the law, if you have overpaid your tax because you failed to take allowable deductions or credits, or overstated your income. You may use Form 1040-X to correct your return if you underreported your income or improperly claimed deductions.
File a refund claim on time. The time limits discussed in 47.2 must be strictly observed; otherwise, even if you file a valid refund claim, it will be denied because of late filing.
You do not have to file a refund claim if you have overpaid your tax due to excessive withholding of taxes on your wages or salary, or if you have overpaid your estimated tax. You get a refund on these overpayments by filing your tax return and requesting a refund for these amounts. You must file your return within three years from the time the tax was paid to get the refund (47.2).
For a refund of an overpayment of FICA taxes, see 26.8 for how to claim a refund on your tax return. If you are not required to file a tax return, you file a refund claim on Form 843.
If you are entitled to a refund due to the earned income credit for certain low-income working families, you must file your tax return to get your refund, even though your income and filing status would not otherwise require that a return be filed. See Chapter 25.
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