How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Charles Markham Your Own Question
Charles Markham
Charles Markham, Enrolled Agent
Category: Tax
Satisfied Customers: 653
Experience:  IRS Enrolled Agent, US Tax Court Practitioner
63791118
Type Your Tax Question Here...
Charles Markham is online now
A new question is answered every 9 seconds

Im claiming a tax credit based on IRC 1341 this year because

This answer was rated:

I'm claiming a tax credit based on IRC 1341 this year because I repaid my income of 4600 back to my employer in 2011 for an overpayment made in 2010. Will this increase my risk for being audited?

TaxWhisperer :

No, I have prepared maybe half a dozen Section 1341 (Claim of Right) claims. Never heard "Boo!" from the IRS. The most I can imagine would be correspondence asking you to document the repayment.

Charles Markham and other Tax Specialists are ready to help you

Related Tax Questions