Hello,
I filed my 2023 tax return in May 2025 and received a $3,000 refund after the IRS processed it in August 2025. I now plan to file an amended 2023 return to remove a dependent. The only change is that I’ll lose the Credit for Other Dependents, which means I’ll owe the IRS about $500 instead.
My questions are:
Will the IRS charge interest on the $500 balance due?
If so, will interest accrue from the original due date of the 2023 return or from August 2025, when the refund was issued?
Are any penalties likely to apply in this situation?
Thank you
I filed my 2023 tax return in May 2025 and received a $3,000 refund after the IRS processed it in August 2025. I now plan to file an amended 2023 return to remove a dependent. The only change is that I’ll lose the Credit for Other Dependents, which means I’ll owe the IRS about $500 instead.
My questions are:
Will the IRS charge interest on the $500 balance due?
If so, will interest accrue from the original due date of the 2023 return or from August 2025, when the refund was issued?
Are any penalties likely to apply in this situation?
Thank you
Statistics: Posted by QueenBed — Sun Oct 12, 2025 7:07 pm — Replies 0 — Views 23