I filed my turbotax Fed and CA state taxes several weeks ago. My wife and I are retired and filed as seniors non-itemized. Turbotax calculated we would receive $1,600 back from the Feds and would owe Calif $1,700. We received our $1,600 refund from the Feds and paid the $1,700 owed to the Calilf FTB. Last week we received a $30 refund check from the Calif FTB as a refund with no explanation. Today we received an $850 check from the IRS as a tax refund. While we are glad to receive the unexpected money, can anyone explain why this would have happened. Was turbotax calculations wrong or what?
It depends.
There could have been a tax form that the IRS and FTB received that were not included with your tax return filing or maybe you had estimated tax payments that were not reflected on the tax returns as filed.
Typically, when a taxing agency makes changes to your tax return, they will also send a letter explaining the difference between your tax returns as filed and any changes they have made.
Please see Tax Season Refund Frequently Asked Questions from the IRS and Help with refunds from the FTB for other possible reasons for the change in your refund.
In your experience, would an explanation letter from the IRS or FTB usually be sent with or after the adjusted refund check is sent?