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Carmen Flores

Will IRS keep my 2023 refund if I'm already on payment plan for previous year?

I owe the IRS for a previous year and have already set up a payment plan that I'm making payments on. Will they automatically take my refund for this year or will I actually get it since I'm already paying them back through the installment agreement?

Andre Dubois

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Yes, the IRS will still offset (keep) your refund even if you're on a payment plan. The installment agreement is separate from their refund offset program. Any refunds you're eligible for will automatically be applied to your tax debt until it's paid in full.

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Carmen Flores

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ugh that sucks 😭 I was really counting on that money

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Andre Dubois

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I know it's frustrating, but at least it'll help pay down your debt faster!

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CyberSamurai

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Hey there! You should check out taxr.ai - it's this new tool that analyzes your transcript and can tell you exactly what's happening with your refund and any offsets. It's only $1 and WAY better than trying to piece everything together yourself. Here's the link: https://taxr.ai

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Zoe Alexopoulos

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does it actually work? seems to good to be true tbh

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CyberSamurai

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100% works! It showed me exactly why my refund was being held and even gave me steps to fix it

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Zoe Alexopoulos

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just tried it and holy cow 🤯 this thing is incredible! wish I knew about this months ago

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Jamal Carter

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same boat here fam. been on a payment plan for 2 years and haven't seen a refund since 🥲

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Mei Liu

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Pro tip: adjust your withholding so you don't get a refund. No point giving them an interest-free loan if theyre just gonna keep it anyway

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Liam O'Donnell

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this is the way 💯

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Amara Nwosu

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Wait you guys are getting refunds? 🤡

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AstroExplorer

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lmaoooo right? 😂

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might be worth calling them to see if you can modify your payment plan. sometimes they can work with you if youre having financial hardship

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Carmen Flores

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tried calling but was on hold for 2 hrs then got disconnected smh

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