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What if I overpay my estimated taxes?
If you overpay your estimated taxes, you will receive a refund for the excess amount when you file your tax return. This refund will be issued by the tax authorities.
What is the process for receiving a refund if I overpay my estimated taxes?
To receive a refund for overpaying your estimated taxes, you need to file a tax return with the IRS. On your tax return, you can claim the overpayment as a credit or request a refund. The IRS will then process your return and issue a refund if you are owed one.
Who must file a tax return?
An income tax return must be filed by anyone eligible for a tax refund.
How is the estimated tax refund calculated?
The estimated tax refund is calculated based on the current year's tax codes.
Is there a place online where a wage earner can go estimate their tax refund?
Yes, you can use turbo tax. You dont have to file the return, but you can see your estimated refund. Turbotax.com
When you file for the federal tax refund do you file the state tax refund separately or on the same form 1040 with schedule a?
When you file for the federal tax refund, you will file the state tax refund on the same 1040 form with schedule A.You can also file for that separately.
Can you receive your tax refund if you didn't file the previous year?
It is not possible to get refund unless we file the income tax returns. When we file returns it will check with OLTAS and generate refund if paid excess
What happens to a income tax refund if you do not file?
You cannot get a refund if you don't file. But even if you are years late, you can still file and apply for your refund. It does not expire.
Is an estimated tax refund the real amount I will get?
Not necessarily. As stated, it is an estimated refund. Other factors may affect your refund that have not yet been taken into account. A tax professional can hep you find the exact amount you will get.
How much income do you need to be able to file for tax return?
Anyone can file a tax return. No income necessary. Just fill in zeroes. People with low income who have had tax withheld from their pay but are not required to file tax returns should do so anyway in order to get a refund.
How long it takes to get state tax refund?
It depends on when you file your tax return. The earlier you file it, the quicker you will get it back. If you file your tax return in February, you will most likely get your state refund back within a couple of weeks.
Do I have to file income tax if I am not getting a refund?
Yes
