I never had an issue with my refunds and all of a sudden I get a letter stating the IRS is looking into my refund? I was advised that the IRS is investigating TT because of the additional Advance Child Tax credit. I reported the information correctly and claimed I did receive the advance credit and to pay it back. Is anyone else being delayed because of this? I cannot get through to TT, and every time I send a message it says a specialist will contact me, but I never get a call. What am I paying for?
The IRS isn't investigating TurboTax, but rather is taking a closer look at your tax return. One of the top items that the IRS is looking more closely at is the Advance Child Credit. So you're not alone.
You received the IRS letter as notification as to why your refund has been delayed a bit. You paid TurboTax to use their tax preparation software. As long as you entered your information correctly, and made no other mistakes within your return, you're in good shape.
Hope you get your refund soon.
Can you elaborate on what you were told about the IRS investigating TT? It seems like this is a problem for a lot of people that said they got the third stimulus on their taxes but the IRS is saying they claimed they didn't. I'm in this boat. They deducted the stimulus from my return even though my return has my correct status. Either turbotax isn't calculating the returns properly or they're sending incorrect data to the IRS. Either way they're not 100% accurate as they claim.
Many people never got their 3th stimulus because there was a problem with the bank account, and it was mailed to them. Contact the IRS and ask them to track the status of your payment. It could have been lost in the mail or stolen from your mailbox.
When a specialist calls you back it is from a 800 number. Do you answer 800 numbers? Do you have them blocked on your phone?
@DanP0428 You read my post incorrectly. I said I DID get my stimulus and filled that information in CORRECTLY in turbotax's forms. My printed return shows that I entered the information properly and yet the IRS is still deducting the amount from my return even though I did not claim it on my return. It's a real possibility that turbotax sent the IRS bad data. I'm waiting on a letter for more information since the IRS is impossible to get ahold of.