IRS Form 941 - Line 15 Overpayment and Refund Requests
We used the ERC this year, and in Q2 and Q3 Wave filed Form 941 with the IRS indicating that we had an Overpayment (Line 15) and checked the box "Send a refund."
However, to my knowledge, I've not seen the refund from either quarter. Is there a way to tell how this refund was made (e.g. direct deposit or mailed check) and if it even was refunded yet? Am I still stuck in a long IRS queue? What happens if I don't have it at the end of the year and go to file taxes?
These are not small amounts given the revenue and payroll that we process. If this money is actually ours, I'd love to get it back in our expense account so that we can keep growing the business into 2022.