[proxy_user]

Apply you overage to this year’s tax, and cut your withholding. You get the money whether the iRS does anything or not.

Why are you giving Uncle Sam an interest free loan?

[BobL]

“Apply you overage to this year’s tax, and cut your withholding. You get the money whether the iRS does anything or not.”

Agree, for people with a steady income, they have to be pretty damn dumb to be owed a ‘refund’.

[Auntie Dem]

Sadly, that won’t work with today’s lazy incompetent IRS. I have a client that had a $20K overpayment on his 2019 return applied to 2020. He owes $20K on his 2020 return, but they haven’t processed his 2019 return YET, so they keep billing him for the 2020 balance. The lazy incompetent bastards of today’s IRS won’t even respond to my letters after a year and a half!

[minnesota_bound]

I owe taxes so I hope the backlog continues.

[Svartalfiar]

Apply you overage to this year’s tax, and cut your withholding. You get the money whether the iRS does anything or not.

Why are you giving Uncle Sam an interest free loan?

Huh? Applying overage to this year's tax is the same as withholding, only you have the whole amount upfront instead of spread over the year. That idea is a BIGGER interest-free loan to the IRS!!

You should KEEP your refund, pay off debt/invest it, and then drop your withholding to better match the actual amount of taxes. Pay as much of your taxes as you can WHEN THEY'RE DUE, and minimize any and all pre-payment!