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bry24
Returning Member

Do I need to file amended return?

I have not been able to get in touch with anyone from the IRS for months. I was suppose to receive 10k and received 4k because it said there was an issue with the child tax credit and recovery rebate credit. I have no idea what the issue could be as I looked over my return. I need help to figure what to do from here. That's a lot of money to come up short on. 

18 Replies
xmasbaby0
Level 15

Do I need to file amended return?

TurboTax does not get any information from the IRS after you file your tax return, so no one at TT knows why your refund was less.

 

Sometimes we can make an educated guess as to the reason for your reduced refund if you mention specific amounts--for example if your refund was short by $1400 per person---it is likely to be a mix up regarding the 3rd EIP payment.    If you received the 3rd stimulus check of $1400 per person in 2021 then you got letter 6475 from the IRS about it.   You needed to enter the amount you received.   If you already received that money then line 30 on your Form 1040 should have been blank.

 

 

 

 

  If it is short by $1800 or  $1500 or  a multiple of that amount  ---   maybe a mixup regarding the advance child tax credit payments. If you received monthly child tax credit payments of $250 or $300 per month between July and December of 2021, then you got letter 6419 from the IRS, and you were required to enter the amount of the advance payments.   Only the remaining amount of the CTC should have been on line 28 of your Form 1040.

 

The IRS knows how much they sent to you for the 3rd stimulus check and they know how much they sent for advance child tax credit payments.   If you answered something incorrectly on your tax return then the IRS made a correction that resulted in a reduced refund for you. 

 

 

 

 Or---the fees you were supposed to pay for using TurboTax + the "refund processing fee" charged by the third party bank….

Did you choose to have TT fees deducted from your Federal refund?  (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99 or $44.99 in CA)

How can I see my TurboTax  fees?   

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

 

What is Refund Processing Service?

 

 

The IRS will send you a letter that explains why your refund was reduced or why you owe more.   Meanwhile it might help you to check your online IRS account.

 

 

https://www.irs.gov/payments/your-online-account

 

 

https://blog.turbotax.intuit.com/tax-refunds/why-is-my-tax-refund-not-what-i-expected-49240/

 

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-round-economic-impact-payment-top...

 

If you need to trace a payment that the IRS says has been issued to you, mail or fax a completed IRS Form 3911, Taxpayer Statement Regarding Refund.

 

 

 

Updated IRS FAQ about recovery rebate credit

https://www.irs.gov/pub/taxpros/fs-2022-27.pdf

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
NCperson
Level 15

Do I need to file amended return?

@bry24 - please answer these questions and we can figure it out:

 

1) what is the EXACT amount of the IRS adjustment of your refund

2) what is on Line 28 of form 1040

3) what is on Line 30 of form 1040

4) what are the ages of your children as of 12/31/21.  

5) how much did you receive for the Advance child tax credit. Please review your bank account for the months of July -Dec. 2021.  Please do not do this from memory.

6) how much did you receive for the 3rd stimulus payment.  Please review your bank account for the months of March - May, 2021.  it should be in multiples of $1400 for most tax returns. PLease do not do this from memory. 

 

if you post back the answers, we can figure this out. 

bry24
Returning Member

Do I need to file amended return?

The exact amount of expected is $10,981 and adjusted amount is $4,981.00. the details on IRS website said 1) child tax credit and 2) recovery rebate credit. I did not receive rebates or credits previously and I do have a child under 17. I need assistance looking this over. I haven't been able to get any help with IRS as the number they supplied me with is always busy. I don't want to go through redoing my whole return. What is the problem. 

NCperson
Level 15

Do I need to file amended return?

@bry24 - that is a good start - a $6,000 difference is likely the child tax credit.  Please take the time to answer my questions - it'll be a lot quicker than dealing with the IRS

 

1) what is on Line 28 of form 1040

2) what are the ages of EACH  of your children as of 12/31/21.  

3) how much did you receive for the Advance child tax credit. Please review your bank account for the months of July -Dec. 2021.  Please do not do this from memory.

4) what was your filing status in 2021? married or Head of household?  

 

 

Opus 17
Level 15

Do I need to file amended return?

If you filed a return that you believe is correct, but the IRS has objections, you can't fix that by filing an amended return.  You need to wait for the IRS to make a final determination, at which point they will send you a letter.  You then have 30 days (usually) to appeal, and there will be a specific address and specific process to appeal the decision.  You can't use the amending process to get around a final decision, you have to use the available appeal process.  

 

 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
bry24
Returning Member

Do I need to file amended return?

Hi, Thank you. 

1) 4,981.00 adjusted amount

2) line 28 = 3,600

3) line 30= 4,200

4) one year old

5) 1,800

6) 4,200

bry24
Returning Member

Do I need to file amended return?

@NCperson  married jointly. l replied to other questions in previous reply

VolvoGirl
Level 15

Do I need to file amended return?

Line 28 should only have been 1800.  You already got half as the advance.  

Line 30 should be ZERO.  You already got the 3rd Stimulus payment.  

 

1800+4200 = 6,000 adjusted.

VolvoGirl
Level 15

Do I need to file amended return?

Line 28 & 30 are only if you didn't get the full amount or qualify for more.  Not the amounts you already got.  You didn't answer the questions right and didn't enter the amounts you got during the year.  

bry24
Returning Member

Do I need to file amended return?

great, didn't know that. so great start but I'm here to learn how to fix it

NCperson
Level 15

Do I need to file amended return?

@bry24 - okay - so here is the problem.....

 

1) you were eligible for either the Recovery Rebate Credit or the stimulus but not both.  This credit was $1400 times 3 people or $4200.  There was a point during the interview where turbo tax asked how much you already received and you must have answered zero.  But the IRS records indicate they sent it to you last year, so they adjusted Line 30 from $4200 to zero.

 

1a) please go back and review your bank account records from March - May, 2021.  if you find the direct deposit of $4200, then it's 'case closed'.  You were eligible for $4200 and you received it! you can't get it again on your tax return

 

1b) if you didn't find the $4200 in your bank accounts, then the dilemma is you have no record of receipt but the IRS records state they sent it.  the way to resolve this is to send in the tracer form (see link below) and the US Treasury will figure it out. 

 

https://www.irs.gov/pub/irs-pdf/f3911.pdf

 

2) the child tax credit was worth $3600.  again, half would have come as $300 payments per month from July - December. 2021.  That should have left $1800 on your tax return / line 28.  But you have $3600 listed.  So this means when asked by Turbo Tax whether you had received an Advance, you must have answered 'no'.  But the IRS records are that they sent you $1800 already, so they reduced Line 28 by that $1800.

 

2a) please review you bank account statements from July - December, 2021.  if you see the $300 per month deposits, it's "case closed".  you already received the $1800 and therefore the tax refund was correctly reduced by that amount

 

2b) if you have no record of receiving the $300 per month, then again, a separate trace form (use the same form above) needs to be completed and mailed to the US Treasury as the IRS records state they sent it, but your records show you didn't.  

 

There is no need to amend your tax return.  The IRS has already done that.

 

make sense ?

bry24
Returning Member

Do I need to file amended return?

@VolvoGirl  then I would still qualify for 1,800 because child credit is 3,600 for children under 6. 

VolvoGirl
Level 15

Do I need to file amended return?

Yes line 28 should only be the 1800 you didn't get (half of 3600).  That's why they only reduced your refund by  6,000 and not 7,800.  You still get 1800 on line 28.  

bry24
Returning Member

Do I need to file amended return?

@NCperson I responded to your question saying the amounts I received in previous post. 1,800 for Child tax credit 2021 and 4,200 for rebate. I most have done it wrong on the return thinking they asked how much I received. However, the child tax credit says its 3,600 for under 6. I received 1,800 in July of last year but not the other 1,800 on my adjusted return. 

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