Refund from IRS

It's nice to see you here in the Community, @countylineelectricme. I'll help you record your IRS refund.
 

We can create a deposit to record the refund if the company is taxed as a corporation, and we can use the expense account for the taxes paid. But, if it's a sole proprietor or partnership, it's your income.

If you choose to put it into the business, then the source account for the deposit would be owner/partner equity investment.

However, I'd still recommend reaching out to your accountant. That way, they can guide you with the appropriate accounts to use.

Here's how to create a deposit:
 

1. Click the + New button.
2. Select Bank deposit.
3. From the Account field, select the account.
4. Select to whom you received the amount.
5. Choose the taxes paid expense account or the Owner's Investment account in the Account column.
6. Enter the Payment Method and the Amount.
7. Then Save and close.
    

If you want to view your past forms and payments in your payroll service, you can check out this article: Access payroll tax forms and tax payments.

Please post a reply if you need more in managing your refunds or payroll taxes. I'll be here. Stay safe!