Is it too late to file 2016 return and apply its overpayment to not yet filed 2017 return?

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abctax55Answer

Level 15

And..if the IRS screws up & sends a check anyway, tell your client not to cash it. Then send it back to the IRS with an explanation. It will likely take a bit to get straightened out, but might be worth it if the amount is large and there are underpayment penalties on the 2017 return.

HumanKind... Be Both

abctax55Answer

Level 15

And..if the IRS screws up & sends a check anyway, tell your client not to cash it. Then send it back to the IRS with an explanation. It will likely take a bit to get straightened out, but might be worth it if the amount is large and there are underpayment penalties on the 2017 return.

HumanKind... Be Both

itonewbie

Level 15

Technically you could, by law and regulations. As IRMN says, you may, however, run into administrative issues. You should also take a look at when the payment(s) giving rise to the overpayment was made as that would determine when it would be creditable for the purpose of offsetting the 2017 liability.

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