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Mdodson333
Returning Member

Calculation of Recovery Rebate 2021

I too stated we had received the stimulus in May of 2021.  TT entered 2800 in line 30 and we were to receive a rebate of 1619.00.  Then I get notice from IRS that we owe 1181.00.  So I went back in to TT, let it update and now the 2800 is removed from line 30 and it calculated that we owe.  Was this a true error and TT is updated and has now corrected the issue to remove that 2800 from line 30?

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6 Replies
FangxiaL
Expert Alumni

Calculation of Recovery Rebate 2021

The $1619 is the refund if you did not receive the $2800 last year. If you did receive it and you claimed it again on your 2021 taxes, the IRS won't allow it. That is why you received the notice that you owe taxes instead of a refund. After you remove the $2800 Recovery Rebate Credit, it should show a balance due of $1181 instead of a refund. The TurboTax calculation is correct.

 

There is no need to file an amended return if you agree with IRS changes, assuming you did receive the $2800 in 2021.

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Calculation of Recovery Rebate 2021

Is this going to trigger an audit??

LAR16
New Member

Calculation of Recovery Rebate 2021

We just received a notice from the IRS about Payment that is owed in regards to CP11 Notice.  Looks like we owe ANOTHER $4k!  We use TT every year, and we have never had any issues.  We are trying to contact the IRS, but it's almost impossible.  Now I'm trying to get help from TT, but that too seems impossible!  HELP!!!

 

Calculation of Recovery Rebate 2021


@LAR16 wrote:

We just received a notice from the IRS about Payment that is owed in regards to CP11 Notice.  Looks like we owe ANOTHER $4k!  We use TT every year, and we have never had any issues.  We are trying to contact the IRS, but it's almost impossible.  Now I'm trying to get help from TT, but that too seems impossible!  HELP!!!

 


On your 2021 tax return did you indicate that you did Not receive the 3rd stimulus payment in 2021?  If so, then the payments you were eligible to receive based on your 2021 tax return were entered on your Form 1040 Line 30 as a Recovery Rebate Credit.

The IRS has records showing that the stimulus payment was sent to you in 2021 so they removed the credit on Line 30 thereby changing the amount of taxes owed.

 

Go to this IRS website for your tax account to see if the 3rd stimulus payment is entered - https://www.irs.gov/payments/your-online-account
If you are Married Filing Jointly also check your spouse's tax account.


If you checked your bank account in the March - May 2021 timeframe and there is not a EIP3 payment from the IRS then go to this IRS website for how to start a trace on the payment - https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-p...

MayaD
Employee Tax Expert

Calculation of Recovery Rebate 2021

No, but if you enter an amount that doesn’t match IRS records, that will cause delays when the IRS goes to process the return.

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LAR16
New Member

Calculation of Recovery Rebate 2021

THANK YOU!!!!

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