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Form 843 online Orange Florida: What You Should Know

You may use Form 843 to calculate your return or obtain a refund. To receive a refund, you must first verify that the IRS made a mistake by requesting an explanation of the error from the IRS. Use IRS Form 843 to request a review or correction of a: Overpayment Error in applying tax rules that result in extra tax or interest charges when the taxes are refunded. This includes a return or claim for refund that is not properly completed or that contains erroneous information. Example: An employee makes an illegal claim using IRS Form 1040 to claim a refund in the amount of 6,250. The improper claim resulted in an error assessment of 2,250. The employee cannot request an abatement to reduce the assessment. Underpayment Error The tax imposed by a mistake involving the understatement of income or net tax. This includes a case where the amount of tax to be paid exceeds the amount of tax erroneously collected. Example: A taxpayer pays 10,000 in income tax for the previous year, but failed to calculate taxes properly by not using certain schedules that were provided. The incorrect taxes resulted in an overpayment of 7,000. The taxpayer can request an abatement or refund because the tax is underpaid. Example: A taxpayer is audited by the IRS. The taxpayer's returns are not timely filed because the taxpayer did not file all tax returns by the required 90 and 30 day deadlines. Underpayment error occurs when an overpayment, i.e. an amount that is overstated, is over claimed. The tax paid on the overpaid amount exceeds the amount paid on the underpaid amount and the excess payment is reported to the IRS as an overpayment. Example: An individual who earned 100,000 a year makes a claim for tax remittance of 16,999. However, the income for the year was only 85,000. The individual does not claim an overpayment of 4,999. The individual must request an abatement of the amount erroneously claimed. Example: An individual files IRS Form 1040, claiming an overpayment of income tax of 11,000. The individual is required to calculate his or her tax on the return. The individual incorrectly calculates the amount of tax to be paid by 1,000. The individual can request an abatement for the tax overpaid.

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