I received the wrong refund amount

[Sher07]

So I just received my 2021 return that was supposed to be close to $4,000 but came into my account as $900. I looked over all my info and referenced it to what the IRS website says I was eligible for, and there seems to be no reason why I got a lower amount. It even says on the IRS site that I was supposed to receive the 3rd economic impact payment on this return but I didn't. Do I do an amendment through Turbotax, or just try and contact the IRS? If I do an amendment, there's nothing really to change because it was correct the first time.

[DoninGA]

Does the IRS website indicate that you were sent less than what was reported on your federal tax return Form 1040 Line 34? - https://www.irs.gov/refunds

If your refund is short by $1,400 for each person on your tax return then that is because you said you did not receive the 3rd stimulus payment and the IRS has records that show you were sent the 3rd stimulus payment so they removed the Recovery Rebate Credit that was entered on Form 1040 Line 30.

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...

[NCperson]

DO NOT AMEND..

by far the most frequent error relates to the Recovery REbate Credit or the CHild Tax Credit. 

1) what is on Line 28 of your Form 1040?

2) what is on Line 30 of your Form 1040?

3) what is the EXACT amount of the adjustment the IRS made? 

if you post back the results, I can probably help you figure out what went sideways. 

[Sher07]

Thanks for replying! On line 28 its just blank, on line 30 its 2,800. The adjustment they made was subtracting exactly the $2,800, leaving me with $993. 

[NCperson]

@Sher07 - so here is what occured.

1) you were eligible for $2800 for the 3rd stimulus or the Recovery Rebate Credit, but not both.  (I assume there were two people listed on your tax return, either as taxpayers or dependents)

2) during the Turbo Tax interview process you were asked how much you received for the 3rd stimulus.  You must have answered zero.  And that placed $2800 on Line 30. 

3) The IRS records indicate that they sent you the 3rd stimulus already, so they removed the $2800 from Line 30 which had the effect of reducing the refund by the same amount.

4) Check you bank account statements from March - May, 2021. if you see the $2800 direct deposit then the IRS adjustment is correct.  DO NOT DO THIS FROM MEMORY; please look at the bank account statements. 

5) if you have no record of receiving the $2800, then the dilemma is that you don't beleive you received it, but the IRS records state they sent it.  In that case, you'll have to complete and submit the 'tracer' form to determine where the $2800 went.

6) there is no need to amend your return.  The IRS has already done that

does that make sense? 

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

[Sher07]

Yes, that makes perfect sense. I just checked and I didn't receive that, so I'll have to fill out that form.