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bbag
New Member

After filing - law changes increased refund

For once, we filed a little early, in early March, when we usually wait until closer to the normal tax day.  At the time, my Federal refund showed as $2401.00.  Some time later, when I was trying to check status, TurboTax showed my refund would be just over $4000.00.  When I looked for details on what I should do, I saw references to how the IRS was already taking the law changes into account and ensuring we got our total refund.  Well, it took months, but I finally got my refund, and they sent me $2408.00.

According to TurboTax, I'm owed about $1600 more, how do I go about this, do I have to file an amended return?  Can I do that within TurboTax?

4 Replies
VolvoGirl
Level 15

After filing - law changes increased refund

Did you have unemployment?

 

If you have filed early before the exclusion, the IRS will recalculate your return for the new 10,200 unemployment exemption for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.

 

Just keep waiting.  The IRS is sending them out in batches over the summer.

See IRS article May 14, 2021

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

And see,

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa...

 

Do you need to amend your state return?

https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

 

If you didn't file early your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

Critter-3
Level 15

After filing - law changes increased refund

The IRS has sent the original refund + some interest.  For the rest all you can do is sit tight and wait until they get to your return in the pile up of the MILLIONS they have to recalculate.  Sadly there is no way to track it  so just be patient.

fanfare
Level 15

After filing - law changes increased refund

@bbag 

"According to TurboTax, I'm owed about $1600 more, how do I go about this, do I have to file an amended return?  "

A. YES.

"Can I do that within TurboTax?"

B.  YES but with difficulty.

fanfare
Level 15

After filing - law changes increased refund

@bbag 

If you got merely your original refund, and IRS has not done any adjustment for you yet, you should choose to wait to see if IRS sends more over the summer.

An amended return will take even longer than waiting to see what happens

It is still possible that you are due more than IRS calculates, if you become eligible for certain credits.

For those you must amend.

 

NOTE: you only get one 1040-X e-File in 2020.

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