Filed Amended Return before I got my refund

[mcbeth628]

I was supposed to receive a refund of $2983 for tax year 2021. But I mistakenly said I had not received the third stimulus payment. When I realized my error, I filed an amended return that said I should pay $2623.89. I was using TurboTax so I clicked Yes to file my amended return. Instead of $2623.89, $5,600 was taken from my bank account, which was the entire amount of my stimulus payment. I owe $2623.89, but I've already paid $5,600. The IRS caught my mistake, too, so their website says I owe $2623.89. But nowhere do they show that I've already paid $5,600. I can't afford this. I've been on hold with the IRS and written two letters. Can someone help?

[NCperson]

@mcbeth628 lesson learned: do not file an amendment until the original return has been processed.  Obviously, the IRS processed the original return and is not aware of the amendment.  They caught the error you caught and adjusted accordingly.  

I am having trouble following the math

When you created the amendment, how much did you pay? 

how did you pay the $2623? by check? at the irs portal? 

when did the payment clear your bank account? (date)? 

can you see the $5600 charge on your transcript? 

you will probably get a letter shortly demanding the remaining  money.  there is a section explaining how to dispute it.  I'd wait for that avenue to complain - could be the $5600 posts by then and in effect they owe you - I'd explain that in the dispute response. 

[VolvoGirl]

Yes your post doesn't make sense.  I don't think the IRS would charge you bank account for 5600 for either the original return or the amended.  When did they take it?   Are you sure you are not just seeing the deposit for the 3rd Stimulus payment?  

And you should not have amended for that.  The IRS will automatically adjust your return if you had the wrong amount on line 30 for the Recovery Rebate Credit (3rd Stimulus payment) and send you a bill.  I assume you had 5600 on line 30?

[fanfare]

If you overpaid, you don't have to worry about IRS letters asking for money.

IRS accounting will eventually catch on to what happened. You will get a refund.

Since you e-Filed 1040-X it should resolve quicker than paper filing.

@mcbeth628 

[mcbeth628]

Yes, lesson learned.

When I created the amended tax return in TurboTax and filed it via TurboTax, $5,600 was deducted from my bank account within days (April 25 filed, May 2 $5,600 deducted.) I have that recorded in my online banking records. I haven't paid anything else.

[mcbeth628]

I did not know the IRS would automatically adjust for my incorrect stimulus payment response. So filing an amended return was what I thought was the right thing to do. On my amended return, there is $2,983 on line 18, the amount I overpaid. There is $5,600 on line 20, the amount I owe. They have taken $5,600 from my bank account. I have not received $2,983.

[NCperson]

Line 20 is the problem … you did not owe $5600 …. You owed $5600 LESS the refund from the original return 

suggest sitting tight  until the amendment settles then the irs will either show the credit and refund it or it may take another amendment to fix the problem, but I would not confuse the issue by amending again until the first amendment is processed and you see what the IRS does 

[VolvoGirl]

Yes sit tight and wait and see what the IRS does.   The amended return assumed you had received the first refund.  But the IRS would not be sending you that refund.  They should be adjusting your original return and taking the 5600 off of line 30 and send you a bill for the difference.  Hopefully they will see you paid the full 5600 and send you back the original refund.

[NCperson]

Continuing - I think it should have been 

line: 

18 should have been the refund of 2983

19 should have been ($5600)- a negative  number 

20 should have been what you owed: $2617 

soes that make sense? 

again I would sit tight until I knew the amendment was processed 

[mcbeth628]

Yes, I hear you. Thank you. It's just that we will be paying credit card interest that we wouldn't have had to. I'll keep paying for my mistake. It was my mistake. Thanks again.