Form 1045 Application for Tentative Refund

What is Form 1045?

Form 1045, also known as the Application for Tentative Refund, is a form that taxpayers can use to request a refund of overpaid taxes. This form is an Internal Revenue Service (IRS), and you may use it for individuals, estates, and trusts that have overpaid their taxes due to an erroneous deduction or credit claim. You must file the form within 12 months of the original due date of a tax return.

Form 1045 allows taxpayers to claim a refund for overpaid taxes. Taxpayers must include detailed information regarding why they believe they are entitled to a refund on form 1045, such as details on the deductions or credits you incorrectly claimed. Taxpayers must also provide evidence of their claim on form 1045, such as documentation showing why they believe they should be refunded the amount they claim.

Once you file Form 1045 with the IRS, taxpayers will receive a response from the IRS within six months regarding their claim for a tentative refund. If the IRS agrees with the taxpayer’s claim, you will issue a refund within six months of filing form 1045.

When do you need a form 1045 refund?

There are several reasons taxpayers may file Form 1045 to request a refund of overpaid taxes. Some common causes include:

-The taxpayer claimed a deduction or credit on their tax return that’s incorrect

-The taxpayer paid more taxes than required due to an error on their tax return

-The taxpayer received a corrected tax bill from the IRS after filing their tax return, which shows that they paid too much in taxes

If you believe you are entitled to a refund of overpaid taxes, filing Form 1045 as soon as possible is essential. By filling out this form, you will allow the IRS to investigate your claim and determine if you are eligible for a refund.

Why are you entitled to receive a 1045 refund?

According to Form 1045, the carryback should either come from an NOL (Net Operating Loss), unused general business credit, or a net section 1256.

How to File a Form 1045 Request?

To file Form 1045, taxpayers must complete and submit the form to the IRS. You can file the form electronically or by mail. When filing the form, taxpayers must include detailed information regarding why they believe they are entitled to a refund and evidence to support their claim.

It is important to provide documentation to support your refund claim due to an incorrect deduction or credit claim. This claim may include copies of tax returns, W-2s, or other tax documents. If you received a corrected tax bill from the IRS after filing your tax return, you should include a copy of this bill with your Form 1045.

Taxpayers must file Form 1045 within 12 months of the original due date of their tax return. The form can be filed electronically or by mail, and you can submit it in English or Spanish.

Once you file Form 1045 with the IRS, taxpayers will receive a response within six months regarding their claim for a tentative refund. If the IRS agrees with the taxpayer’s claim, you will issue a refund within six months of filing form 1045.

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