Suppose I want use my state tax refund to pay my federal tax debt. Can I file state return now and file my federal return in April?
Yes. You can file your state and federal tax returns at any point before the filing deadline and use the refund money from the state refund to pay the tax liability on your federal return.
However, you might want to e-file both returns now. Then, submit your federal return with the e-file payment voucher by the federal tax deadline. This will allow enough time for your state return refund to arrive to cover any federal balance due.
You must pay the balance due on your federal return by the filing deadline to avoid penalties and interest.
Learn more about letter 4550C and how to handle an IRS request for additional information with help from the tax experts at H&R Block.
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Filing taxes as a student comes with its own challenges. Recent tax reform changes possibly add new levels of complexity. Read on as our tax professionals outline potential changes college-bound filers could encounter.
When does tax reform take effect? The new tax law passed in 2017, with most provisions going into effect in tax year 2018. Learn more with the experts at H&R Block.