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lori_bain
Level 2

IRS and TurboTax are on my s**tlist

Get this: I filed my 2019 taxes on 2/15/20. My return was accepted on 2/17/20. I was *supposed* to have my refund by 3/9/20 (efile and direct deposit). I've been waiting for 5+ months to receive my return. Today, I got a letter from the IRS that essentially said, "you're not getting a payment, you owe us." WTAF? And, to add insult to injury, they're charging me $4 in interest from 7/15/20-8/17/20! How can I pay something I don't know I owe, and how can they charge me interest for it? Also, their letter is vague in its explanation of why I now owe taxes instead of getting a refund. Apparently, it has something to do with the premium tax credit.

 

Trust me, I will be analyzing this, and getting in touch with TurboTax. How can the software be that far off? Receiving $4500 vs. paying $1400?? It just doesn't make sense.

 

I've used TT for a number of years without issue, but between this and the IRS doing whatever it is they're doing, I'm fed up!

5 Replies
macuser_22
Level 15

IRS and TurboTax are on my s**tlist

TurboTax only has the information  that you give it.

 

What exactally did the IRS change?   Did you forget to enter income?    Did you owe back taxes?

 

Nobody here can see your tax return or know what the IRS changed.   The letter should tell you (and the IRS does make mistakes that can be disputed.)

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
TomD8
Level 15

IRS and TurboTax are on my s**tlist

<<Apparently, it has something to do with the premium tax credit.>>

 

I don't know if this is your problem, but if you received advance credit payments toward the Premium Tax Credit, and the IRS subsequently determined that you were not eligible due to the household income on your tax return, they would require you to repay those payments.

https://www.irs.gov/affordable-care-act/individuals-and-families/eligibility-for-the-premium-tax-cre...

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

Critter-3
Level 15

IRS and TurboTax are on my s**tlist

Where you required to send in the form 8962 & 1095-A after you filed ?    If so did you use the TT program to complete that form ?   If so did you look at the new bottom line of the return ?   If you did not then look now ... does it match what the IRS says changed ?   It is not unusual for the credit to be paid back which means a refund turns into a balance due in a blink of an eye. 

macuser_22
Level 15

IRS and TurboTax are on my s**tlist

Also, if you received a 1095-A form and failed to enter it in the "Deductions & Credits", Medical, Affordable Care Act (1095-A),  interview and skipped that part, then you would be missing the 8962 form.

 

https://ttlc.intuit.com/community/credits-and-deductions/help/where-do-i-enter-my-1095-a/01/26456

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Anonymous
Not applicable

IRS and TurboTax are on my s**tlist

the pandemic hit the IRS hard and for months returns were not being processed and that was coupled with the IRS suddenly have to modify tits programming so 10's of millions of stimulus checks could be issued.  to boot returns with certain credits because of the Path Act could not be processed until late February and then the pandemic hit.

 

here the advice from TT

What to do
You generally have 30 days to respond to an IRS notice, so there's no reason to ignore it. Follow the instructions. It may request more information or ask a specific question. If it's a minor issue and you are confident of the facts, you can respond to the notice yourself. But sometimes, you may need to seek help from a tax professional. The IRS says in its article "Eight Things to Know if You Receive an IRS Notice" that "most correspondence can be handled without calling or visiting an IRS office."

If you filed the tax return with TurboTax, you can take advantage of our free audit support options. Our Audit Support Center walks you step-by-step through responding to an IRS notice.

If you agree with the correction notice
If you make a mistake on your tax return, you may receive a correction notice or an unreported income notice. Compare the IRS adjustments with the information on your tax return. If you agree with the adjustments, you can generally reply to the IRS with a check or money order for the additional taxes due. Write the reference number on the check and send it with the voucher the IRS provides with your notice.

If you do not agree with the correction notice
If you do not agree with the notice, then respond as soon as possible with a written explanation. Explain your reasons for disagreeing and enclose copies of all relevant documents. Mail it to the address on the top left corner, along with the tear-off stub for reference. Start a new folder and keep all correspondence in one place (including copies of your responses to the IRS) for ease of reference. Allow at least one month for the response.

The important thing is to respond—ignoring notices will get you nowhere and could result in additional penalties down the line.

audit support link

https://support.turbotax.intuit.com/irs-notice/audit-support/?TB_iframe=true

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