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Old 08-31-2016, 06:36 PM
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Join Date: Aug 2016
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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.



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Old 09-01-2016, 06:57 AM
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Join Date: Oct 2010
Posts: 5,258
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.=======yes; April 15 was the tax day deadline for most people. If you are due a refund there is no penalty if you file a late tax return

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.=====> You can apply part (or all) of this year's tax refund to next year's taxes. When you come back to do your taxes next year, the amount you applied will show up as a credit



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