Recovery Rebate Credit Won’t Be Applied to Past-due Federal Income Tax Debts

IRS announced that the 2020 Recovery Rebate Credit (RRC) amount will no longer be applied to past due federal income tax debts. This announcement, however, does not apply to debts owed to other federal government or state agencies. Background:IRS “may credit… [an] overpayment, including any interest allowed thereon, against any liability in respect of an… Read more »