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When I filed my 2014 taxes (earlier this year) Pam Schubert noticed that we forgot to include our mortgage interest in our deductions for 2013. So we filed an amended return for 2013 which amounted to a little over $1,000 in our favor! Nice - I know. The process was smooth, albeit time consuming, but when we got the refund, the IRS included "interest" on the money as a result of them having it for so long. At the time, I thought this was also "nice" - but the more I thought about it, the more I thought it was a waste of YOUR money! Why should YOU have to pay for MY mistake? And who gave the IRS permission to give out YOUR money like that? Was this the right thing for the IRS to do? Why or why not?
Posted in these groups: 
Tax Preparer
IRS
Tax Preparer IRS
Posted >1 y ago
Responses: 9
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How much of our money does the government give away to countries that hate us? Take it and you're welcome. I have no problem with my money going to an American especially a brother in arms!
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CMSgt Mark Schubert
LOL. Well, let me give you my address and you can send me some more! LOL!
I didn't want to try to side track the scope of this with all other areas of government waste - strictly keeping it to the specific idea of adding interest to back payments which are created by the taxpayer. My action - my fault.
I didn't want to try to side track the scope of this with all other areas of government waste - strictly keeping it to the specific idea of adding interest to back payments which are created by the taxpayer. My action - my fault.
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With the billions and billions of dollars that are wasted on things that are thrown out, never used, or given to other countries that hate us just for the hell of it; I am happy to see them giving a few extra bucks to a fellow service member. Congrats.
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CMSgt Mark Schubert
LOL - agreed - but at the same time, waste is waste - the amount doesn't matter.
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SSgt (Join to see)
True, but like I said, just happy to see a fellow service member benefit from it this time.
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If you are late with payments (even if from a similar mistake) they charge YOU interest. Seems like it is only fair for them to pay interest when the roles are reversed.
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CMSgt Mark Schubert
that's the question - when it's your fault, I agree you should have to pay interest (and a penalty) - but this is NOT the IRS's fault (and there is really nothing they could do about this specific case) Why should they have to pay interest when the roles are not really reversed - it's "my" fault in both cases and one is a debt the other is a credit - two completely different scenarios.
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Capt Seid Waddell
CMSgt Mark Schubert, I think it is a matter of one party having the other party's cash longer than they should have, so they pay interest. It is not a matter of who made the mistake that caused the imbalance..
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