I filed my 2021 taxes using TurboTax. TurboTax has made an error on my returns. The IRS has sent me a bill including taxes, penalties and interest due. What shall I do?

[construction-ca-]

I have been using TurboTax for a few years now. I didnt expect TurboTax to make such huge errors!

[VolvoGirl]

What was wrong?  Maybe we can help you figure it out.  The 2 most common reasons this year is you entered the wrong amount on line 30 for the Recovery Rebate Credit (3rd Stimulus payment) or line 28 for the Child Tax Credit.  Those lines are just if you didn't already get the full amount or qualify for more.  The IRS knows what they already sent you.  

A lot of people answered the questions wrong and tried to claim the credits again.  Double check your bank statements and Check your IRS account (both accounts if married)

Your Online Account | Internal Revenue Service

[NCperson]

@construction-ca- let's break this down

this is a 'do it yourself' program

1) you take responsibility for entering everything correctly

2) Turbo Tax takes responsiblity for crunching the number (add, subtract, multiply and divide) again the US tax laws.

if either of those bullet points is done wrong, the tax return is going to be wrong.

The Turbo Tax guarentee only covers situations in #2 and only covers penalties and interest charged by the IRS.  You are still responsible for the tax itself.

So what was the mistake?  Typically it is #1 - because if it was #2, then millions and millions of tax returns would be wrong.