I have a back due tax amount of $5000 for the 2001 tax year. For the year 2003, I have a tax credit of 6,000 in deductions. Can this amount be applied to my 2001 bill?
Personally, I would think that this is a question for you CPA... Not knowing anything about your situation, there's not much way I can see anybody would know the answer to your question, but a quick call to your friendly, neighborhood Tax Specialist CPA would have you an answer in a jiffy.
Typically, the IRS or the FTB will not issue any refund if you owe back taxes. They will typcially automatically apply the refund to any back taxes that are owed, whether you like it or not.
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Personally, I would think that this is a question for you CPA... Not knowing anything about your situation, there's not much way I can see anybody would know the answer to your question, but a quick call to your friendly, neighborhood Tax Specialist CPA would have you an answer in a jiffy.
Typically, the IRS or the FTB will not issue any refund if you owe back taxes. They will typcially automatically apply the refund to any back taxes that are owed, whether you like it or not.
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