Refund of overpayment of taxes

Because of advance payments, adjustments (submitting of corrective declarations), which tend to reduce taxes may be necessary to return the overpayment of taxes.

An overpayment usually occurs as a result of:

  • wrong calculation of tax liabilities – choice of incorrect tax rate. Paid an advance payment or a penalty can be revoked after the filing of qualifying documents;
  • carelessness in completing your tax returns;
  • calculation of tax reduction at the end of a specified period.

The return is subject only to an overpayment which arose in a period of 3 years after transfer of funds in the budget. This requirement does not depend on the cause of the overpayment and the time of its discovery by employees of the company.

To return the overpayment of taxes, taxpayers should:

  1. Submit an application.
  2. To pass a tax reconciliation competently.
  3. To apply to the court if response is late or if it failed.
  4. To interest at the rate of refinancing, if the IRS does not return the overpayment 30 days after receipt of the application (or after the signing of checks).

Tax lawyers are reliable assistant in the process of refund of overpayment on taxes. Individual approach allows to carefully examine the circumstances of the excessive tax assessment, the validity of the overpayment and the presence of the official of the tax authority’s response on this issue.

Qualified specialists from UCMS Group advise clients to prepare for the return of the overpayment: to audit, to file a revised tax return, to reconcile and to clear other arrears. To apply for qualified legal assistance at any stage.

Professional support of specialists from UCMS Group will help you to communicate with the IRS and to succeed in return of funds to the account of the company.