incorrect refund

Forum|Forum|5 years ago
March 6, 2021
2 replies
32 views

I filed my 2020 fed, it was accepted by the IRS on Feb 11. I checked my bank account today and saw the refund was direct deposited. Only problem, the amount is incorrect. Line 35a on my return says one value, but the refunded amount is $147 short. Now what do I do?

Best answer by John-project

To those who may find this thread

I resolved the problem. I neglected to include the amount of our second COVID relief check. When I updated my 2020 tax forms with that amount, it nullified the "Recovery Rebate Credit" (form 1040 line 30) which just happened to be the $147 difference.

I do not have to wait for a letter from the IRS explaining why our 2020 refund was not the amount I expected because I signed into my IRS account and the reason was spelled out clearly.

SweetieJean

Alumni - Champ

Is the difference your TT fees? If not, the IRS will be sending you a letter. (One possibility is that you made a data entry error, or forgot to claim some income). The IRS does not notify TT.

John-projectAuthor

Level 2

No, I have no TT fees and I did not buy bonds or "siphon" off any of the refund (e.g. apply to estimated 2021). How do I find out about "entry errors" or "unclaimed income"?

John-projectAuthorAnswer

Level 2

To those who may find this thread

I do not have to wait for a letter from the IRS explaining why our 2020 refund was not the amount I expected because I signed into my IRS account and the reason was spelled out clearly.

pjrey

Level 2

HELP! tried calling the IRS 3 times with crazy long hold times only to be hung up on. Ready to pull my hair out. my 1040 is off over $2,500. I have used TT for over 15 years.. always importing last years data.. and refunds have always matched up. What are my options here? The Govt is a joke!

DoninGA

Level 15

@pjrey wrote:

HELP! tried calling the IRS 3 times with crazy long hold times only to be hung up on. Ready to pull my hair out. my 1040 is off over $2,500. I have used TT for over 15 years.. always importing last years data.. and refunds have always matched up. What are my options here? The Govt is a joke!

Go to this IRS website for federal tax refund FAQ's - https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

Why is my refund different than the amount on the tax return I filed?

All or part of your refund may have been used (offset) to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans. To find out if you may have an offset or if you have questions about an offset, contact the agency to which you owe the debt.

We also may have changed your refund amount because we made changes to your tax return. This may include corrections to any incorrect Recovery Rebate Credit amount. You’ll get a notice explaining the changes. Where’s My Refund? will reflect the reasons for the refund offset when it relates to a change in your tax return.

Tax Topic 203, Refund Offsets for Unpaid Child Support, Certain Federal and State Debts, and Unemployment Compensation Debts has more information about refund offsets.