Claim for Refund

Claim for Refund means:
a claim by a taxpayer to the U.S. Internal Revenue Service for a refund of all or part of the taxes paid in earlier years. Such a claim can result from the correction of an error or the availability of a loss or credit that can be carried back and used to reduce the tax liability of a prior year. An Application for Tentative Refund (Form 1045 for individuals and Former Federal Tax Form (check here if the Form is current) 1139 for corporations) must be filed within 12 months of the end of the tax year that generated the loss or credit. An Application for Tentative Refund is used only to carry back a loss or credit to a prior year in order to recover taxes previously paid.

An amended return (Form 1040X for individuals or Former Federal Tax Form (check here if the Form is current) 1120X for corporations) must be filed within 3 years from the date the original return was filed or within 2 years from the date the tax was paid, whichever is later. An amended return can be used to correct an error or carry back a loss or credit.

A Claim for Refund and Request for Abatement (Form 843) is used to recover overpaid taxes (except income taxes), interest, penalties, and additions to tax. It is also used to request abatement of an overassessment of tax (except income, estate, and gift taxes), interest, additions to tax, or penalty.

See also other Tax Terms and Definitions in U.S.A.

claim-of-right doctrine. Former IRC (check if this IRC provision is current here) §6402.

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See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.

See Tax Forms in the Encyclopedia.