💡 If you receive income from IIE, it’s important to understand how your federal taxes are handled and why you may be asked to return a refund to IIE.
🔎 IIE overpays your federal taxes, so the IRS could issue a refund when you file your return. Sometimes, this refund is used to offset taxes owed on income from other sources, but it might not cover your full tax liability from non-IIE income.
☝️ However, if the refund directly relates to the overpaid IIE taxes, it technically belongs to IIE. That is because the overpayment was made on your behalf by IIE, not by you personally.
ℹ️️ If you need to repay any part of your federal income tax refund, IIE will notify you via email with detailed repayment instructions. These emails are usually sent shortly after tax season, so please keep an eye on your inbox during that time.
✔️ Each year, our team carefully reviews your tax records and confirms the details with IIE to ensure accuracy. If you receive a notification indicating that IIE is requesting the return of its federal tax refund, you are obligated to comply with this request.