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Level 1
March 15, 2021
Question

My client overpaid 2019 and he elected to allow the overpayment to be applied to 2020:an amended return shows additional liability

  • March 15, 2021
  • 1 reply
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the 1040X will not allow overpayment be applied to 2019: why?
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1 reply

BobKamman
Level 15
March 15, 2021

Because IRS won't allow it.  Once you pay into the 2020 account -- whether a credit-elect or estimate payment -- you can't take it back, unless you can convince TAS you have a really good reason.