Over-payment to the Internal Revenue Service?

For F.Y. 1991, I overpaid by exactly $0.04 on my income taxes. I'm curious what the I.R.S. now owes me after all these years of compounding interest and whatnot.

When should I expect my windfall repayment from them?

Additionally, can someone suggest an exotic locale suitable for retirement with my soon-to-be lavish wealth?

11 Answers

Relevance
  • 1 month ago
    Favorite Answer

    If you did not file a claim within 7 years, then the IRS owes you nothing. 

    Starting the paperwork on a 29-year old  question will probably result in 29 years worth of audits (the Revenooers have no sense of humor).

  • 1 month ago

    They owe you exactly $0.00.  You only have a few years to claim money they owe you; if you wait too long, then they no longer owe it.

  • 1 month ago

    The policy of the Internal Revenue Service is that any refund under the amount of $1.00 must be specifically requested. As with this one being from 1991, I'd say you're probably a little late in requesting it. Sorry to spoil your retirement plans.

  • 1 month ago

    The IRS does not acknowledge OR refund any overpayment of less than a dollar. So your balance is actually 0. Got your island picked out?  Maybe it's going to have to be the one in your kitchen. 

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 month ago

    ZERO. They applied the $0.04 to what you owed in 1992.

    Besides, interest on $0.04 for 30 years would still be less than $0.10.

  • Judy
    Lv 7
    1 month ago

    nothing since it was under $1

  • Anonymous
    1 month ago

    By law, refunds of less than $1 must be requested in writing.  You didn't.  The 4cents went to the Treasury.

  • 1 month ago

    Why 4 cents? Were you just being a smart alec? 

  • Anonymous
    1 month ago

    There is something really wrong with you. Reported.

  • Amy
    Lv 7
    1 month ago

    They owe you zero. You only have 3 years to request a refund.

Still have questions? Get your answers by asking now.