« previous next »
Pages: 1 [2]   Go Down

Author Topic: IRS high interest rates  (Read 4158 times)

Offline Dan

  • Administrator
  • Dansdeals Lifetime 50K Diamond Elite
  • **********
  • Join Date: May 2008
  • Posts: 68895
  • Total likes: 17270
  • DansDeals.com Hat Tips 16442
  • Gender: Male
    • View Profile
  • Location: CLE
  • Programs: UA GS, AA EXP, DL Dirt, Hyatt Glob, Fairmont Lifetime Plat, DD Diamond, Blocked By @NeriaKraus
Re: IRS high interest rates
« Reply #20 on: September 23, 2019, 06:23:37 PM »
Quote from: ExGingi on September 23, 2019, 06:12:11 PM
Did you file any amendments? Did you just recently file 2017? Was 2017 adjusted due to a 2016 filing? Did you just overpay estimated taxes? Did they instruct you to pay more estimated taxes than you actually owed?
Letter said they received a returned refund check. They may have sent it to an old address I guess. Boy did that work out nicely.

I think it may be because I made a credit card payment in my wife's name as I had already made 2 payments that quarter. I called the IRS earlier this year to have that payment moved over to my account after I realized that didn't happen automatically.
Logged
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline yelped

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2015
  • Posts: 10956
  • Total likes: 3974
  • DansDeals.com Hat Tips 43
    • View Profile
Re: IRS high interest rates
« Reply #21 on: September 23, 2019, 06:31:51 PM »
Quote from: Dan on September 23, 2019, 06:23:37 PM
Letter said they received a returned refund check. They may have sent it to an old address I guess. Boy did that work out nicely.

I think it may be because I made a credit card payment in my wife's name as I had already made 2 payments that quarter. I called the IRS earlier this year to have that payment moved over to my account after I realized that didn't happen automatically.
Yeah that's what took them 3 months to refund my overpayment. Apparently, not all reps know how to move it over and release the refund without first making a hold on it, which then causes nothing to happen.
Logged

Offline dovy2

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Oct 2012
  • Posts: 2389
  • Total likes: 300
  • DansDeals.com Hat Tips 24
    • View Profile
Re: IRS high interest rates
« Reply #22 on: September 23, 2019, 07:09:03 PM »
Quote from: yelped on September 23, 2019, 06:31:51 PM
Yeah that's what took them 3 months to refund my overpayment. Apparently, not all reps know how to move it over and release the refund without first making a hold on it, which then causes nothing to happen.
So the IRS method kicks off...
Logged

Offline ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 17686
  • Total likes: 7942
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive PlatinumŽ
Re: IRS high interest rates
« Reply #23 on: September 23, 2019, 07:15:00 PM »
Quote from: dovy2 on September 23, 2019, 07:09:03 PM
So the IRS method kicks off...
Coupled with DC+Premier+"Rewards+"
Logged
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Nov 2015
  • Posts: 17686
  • Total likes: 7942
  • DansDeals.com Hat Tips 19
    • View Profile
  • Location: 770
  • Programs: בשורת הגאולה. From Exile to Redemption. GIYF. AAdvantage Executive PlatinumŽ
Re: IRS high interest rates
« Reply #24 on: September 23, 2019, 07:16:01 PM »
Next thing we know this thread is banished to the soooper seeekrit section along with the UPS method thread.
Logged
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7647
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Re: IRS high interest rates
« Reply #25 on: September 23, 2019, 07:22:57 PM »
Quote from: bhoaem on September 06, 2019, 03:50:44 PM
I got a check from the IRS for a revised 2017 tax return. Besides for what I was owed I also got around 7.6% more. On the check its listed as interest.
Does anyone know why I got such a high interest rate?
(I'd love to use them as my savings account. )
That's the rate - but it goes both ways for when you owe them money...

It's a little lower now though..

https://www.irs.gov/newsroom/interest-rates-remain-the-same-for-the-second-quarter-of-2019
Logged

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7647
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Re: IRS high interest rates
« Reply #26 on: September 23, 2019, 07:29:33 PM »
Quote from: dovy2 on September 23, 2019, 07:09:03 PM
So the IRS method kicks off...
It is generally not recommended to give the IRS more then absolutely necessary.. interest or not.. and they are the last place you would want to take advantage off imho. They have unlimited time and resources if they want to take a "deep dive" into your business. An IRS FR is expensive and risky.

I wouldnt go anywhere near this. (Though relying on IRS interest payments can be used as part of a *tax strategy* in unique circumstances when there is doubt etc.)
Logged

Online aygart

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: May 2008
  • Posts: 18407
  • Total likes: 14580
  • DansDeals.com Hat Tips 14
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: IRS high interest rates
« Reply #27 on: September 24, 2019, 10:37:06 AM »
Quote from: churnbabychurn on September 23, 2019, 07:29:33 PM
It is generally not recommended to give the IRS more then absolutely necessary.. interest or not.. and they are the last place you would want to take advantage off imho. They have unlimited time and resources if they want to take a "deep dive" into your business. An IRS FR is expensive and risky.

I wouldnt go anywhere near this. (Though relying on IRS interest payments can be used as part of a *tax strategy* in unique circumstances when there is doubt etc.)

+1 and you can't just close the account.
Logged
Feelings don't care about your facts

Offline bhoaem

  • Dansdeals Gold Elite
  • ***
  • Join Date: Aug 2019
  • Posts: 109
  • Total likes: 38
  • DansDeals.com Hat Tips 0
    • View Profile
Re: IRS high interest rates
« Reply #28 on: September 10, 2021, 02:22:37 PM »
The IRS mailed me a 1099. Is there a way to lookup what it was for? I have no recollection of any interest that was paid.
Logged

Offline incendia

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Sep 2011
  • Posts: 1275
  • Total likes: 80
  • DansDeals.com Hat Tips 8
    • View Profile
Re: IRS high interest rates
« Reply #29 on: September 10, 2021, 03:02:14 PM »
https://www.irs.gov/individuals/get-transcript

Look at your "Record of Account"

But I don't think they would mail a 1099 at this time of year
Logged
Pages: 1 [2]   Go Up
« previous next »