The Taxpayer Advocate Service has published an article titled “TAS Tax Tip: Returning a Refund, Economic Impact Payment, or Advance Payment of the Child Tax Credit,” which provides information regarding the return of mistaken IRS refunds. The article begins as follows:
If for some reason, you believe you are not due a refund that was sent, you can void or repay those amounts.
Before you return any IRS refund or payment, double check that isn’t due to you, by either:
Reviewing the IRS notice provided (the notice includes an explanation of why your account was adjusted, how it was calculated, and generally includes a specific toll-free telephone number in case you require further assistance – additional information about the notice can also be found at), Understanding Your IRS Notice or Letter | Internal Revenue Service
Reviewing the eligibility rules for Economic Impact Payments (EIP) or Advance Payment of the Child Tax Credit.
To view the full article, click: “TAS Tax Tip: Returning a Refund, Economic Impact Payment, or Advance Payment of the Child Tax Credit”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal