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posted Oct 30, 2019 10:54:22 PM

Is it better or not to request an accelerated refund because there was a statement that said it may take longer in this case, to issue your notice of assessment

Is it better or not to request an accelerated refund because there was a statement that said if you request an accelerated refund - it may take longer in this case, to issue your notice of assessment. Is this a good thing or bad thing etc. 

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Moderator
Oct 30, 2019 10:54:23 PM

The problem with an accelerated refund is not so much how long it will take for you to get your Notice of Assessment (NOA), but rather, when your NOA does come, you may be asked to pay some or all of that refund back. Even worse, they can charge you interest if you actually were supposed to owe taxes.