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      09-30-2020, 12:09 AM   #19
c0bra
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If the IRS pays you too much and realizes it later, they will bill you and charge you interest. Currently, interest is set at 5% annual rate. If you don't need the funds, just hold the check until you have more clarity.

The IRS is actually very good at making refund adjustments in the taxpayer's favor. A very common adjustment is when there is a difference in total estimated tax payments actually made versus what was reported as being paid on your tax return.

Special note this year, many refund checks have been arriving well ahead of adjustment notices. The notice is usually 1-2 weeks behind the check.

If you are impatient, the advice to get a transcript is good. Go to irs.gov and download your Record of Account Transcript. Compare it to the tax return copy your accountant provided and look for any changes indicated on the transcript.
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