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 Publication 6292 a Rev 9 Fiscal Year Return Projections for the United States 2023

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we'll be going over IRS notice cp42 this is a notice that you might receive from the Internal Revenue Service if you had a tax refund that was applied to outstanding taxes that you owed from prior tax years so for example uh let's imagine that you uh received a $5,000 tax refund for the 2023 tax year uh if you just filed your 2023 taxes but you owed taxes for 20 20 and 2021 uh before you received any of your 2023 refund the IRS would apply your refund to zero out those uh tax balances for prior years and then if there was anything left you would receive that as the refund so this notice basically attempts to break down uh what your tax refund consists of uh your outstanding tax balances from prior years and then it uh uh will tell you how much your actual refund is net of all the tax debt that you paid off so uh we'll go through this form uh step by step we're going to go ahead and start with uh the upper right hand corner where you can see the notice nu

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