Irs Earned Income Credit Notice
April 30th, 2009Question: Tax Question – Earned Income Credit Overpayment?
My wife and I filed our taxes with the 1040 form. We dropped this information off to our tax consultants. When we picked it up they told us we are getting $4870 back. Yesterday I was filing and I noticed that she left out a W2 for $10,775. I checked online and the EIC should have been $2219. That is a $2,651 difference. We already received our return and spent it. I am very concerned because we dont have the money to replace this. I was wondering what the IRS usually does in this siutation. I was told that sometimes they will just take it out of next years return. Can some please help me answer this question?
Answer: The tax consultant should be responsible for the mistake. Go back to them and have them rectify the situation. It might mean repaying the over-payment, true, but the IRS is good about payment plans.
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