Refund Good afternoon,
I am filing 2013, 2014 and 2015 1040s for the first time and I expect a refund in 2013 that will cover the amounts due in 2014 and 2015. I do not expect any penalties and/or interest as the majority (more than 90%) was withheld by my employer.
So I have the option of paying the small amounts due in 2014 and 2015 and receiving the refund of 2013, but was wondering if I can instruct the IRS to use my 2013 refund to cover the 2014 and 2015 amounts due.
I understand if I had filed on time, I can enter an amount on line 75 of the 1040 to apply my refund to the next year's estimated payments. However, as I am filing late I am not sure if I can do that.
Please advise. |