"Zeke's Mom" <kptpcin[at]aol.com> wrote:

- quote -

assuming you fall outside the statute of limitations on
refunds and none is otherwise due for 1998, showing a 1998
overpayment on a late filed 1999 return may or may not make
it past the irs when filed

IF the irs processes a 1998 return and applies a 1998
overpayment to the 1999 form 1040, it may or may not slip
through the cracks

meaning it may or may not get caught by the irs, and if it
does get caught, it might not get caught immediately

imagine the ruse surprise of findiing out the irs applied it
then caught it and now wants it all, with penalties and
interest calculated since the original due date of the
return

can become a quite sticky mess

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Zeke's Mom" <kptpcin[at]aol.com> wrote:

- quote -

Your refund is gone.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Zeke's Mom" <kptpcin[at]aol.com> wrote

- quote -

Generally no, but it can't hurt to prepare the returns that
way and see if it slips through.

--
Paul A. Thomas, CPA
Athens, Georgia

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

1998 1040 filed now (very late, I know), if a 'refund' is
due me, can it be used to pay taxes on 1999? I know there
is a 3 year limit going back on actual refunds, but I don't
know if that would apply to a carryover.

Thanks.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >