Consider the following scenario:

• 1st Dec 2023:
  A client pays $400 for 1 year of access to my service. I set aside $100 (25%) for taxes and take $300 (75%) for my business.
• 15th Jan 2024:
  I pay the $100 in estimated taxes to the IRS.
• 15th Apr 2024:
  Taxes are finalized for 2023.
• 31st May 2024:
  The client cancels their service and requests a refund for the unused 6 months. I oblige and refund them $200.

Ideally, $150 (75%) of the refund is from my business and $50 (25%) is from the taxes I’ve set aside; however, since the $50 was already paid to the IRS in my 2023 taxes, my business would now have a $50 deficit.

How do I document this in my books? How and when can my business recover the $50?