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Level 1
June 29, 2020
Question

Return was filed and accepted by IRS. Refund was set up to be applied to next year. How do I get a refund now???

  • June 29, 2020
  • 3 replies
  • 24 views
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3 replies

dkh
Level 15
June 30, 2020

Form 1040 instructions, top of page 58,    This election to apply part or all of the amount overpaid to your 2020 estimated tax can't be changed later.

 

You'll have to wait until filing 2020 return to get the money back.

sjrcpa
Level 15
June 30, 2020

@dkhis correct. But, perhaps, if a superseding or amended return was filed by July 15, 2020 this "election" could be made moot.

The more I know the more I don’t know.
dkh
Level 15
June 30, 2020

Can't hurt to try mailing a superseding or amended as @sjrcpa suggest....... but most likely with the backlog IRS is dealing with you'll have to wait until 2021 to get the money back    May be best to wait until filing the 2020 return.