IRS Discrepancy

Forum|Forum|2 years ago
September 28, 2023
3 replies
8 views

Turbo Tax says I should get a refund of $3,390.

The IRS actually refunded $3,798.

I pulled the 2022 IRS transcript and the discrepancy is in the self employment tax.

I am not complaining because I got more than I asked for.

But it seems like there is an issue in Turbo Tax? Don't they guarantee accuracy?

Anonymous_

Level 15

See https://ttlc.intuit.com/turbotax-support/en-us/help-article/account-management/turbotax-100-accurate-calculation-guarantee/L30iuaxMC_US_en_US

Opus 17

Level 15

We can't see your tax return so we don't know what might have happened. You can try calling customer support and asking them to do a screen share with your account.

Turbotax guarantees accurate calculations, but doesn't guarantee that your inputs are accurate, and there is no way of knowing what happened without a detailed look at your return and the IRS transcript. Also, the accuracy guarantee will pay interest and penalties if you owe them as a result of a calculation error, but there is no payoff from making a claim on the guarantee if you owed less tax.

spohrerga1Author

Level 2

I am happy to (privately) send Intuit my return file as well as the IRS transcript.

I am not going to post it on this forum.

There is no data entry error. TurboTax and the IRS disagree on the amount of self employment tax. Every other number matches up.

Let me know

Opus 17

Level 15

If you contact support, there is a procedure to send them an anonymized version of your file, if they are interested in the discrepancy. (It's also not impossible that the IRS screwed up. It has been known to happen.)

https://ttlc.intuit.com/turbotax-support/en-us/contact

VolvoGirl

Level 15

Here's a thought. Do you have any W2s? Are you married? You may have assigned a W2 or even the schedule C to the wrong person. If you have W2 income the SE tax has a max.

If you have W2 income, you have to break out the Social Security and Medicare taxes. The Social Security part maxes out.

The SE tax includes what you already paid in from your W2 (box 4) so your schedule SE tax will only be the difference up to the max amount of $9,114.00 for social security. The max for social security for 2022 is 6.2% of wages plus schedule C net profit up to $147,000. Medicare is 2.9% (both er & ee parts) of all wages & schedule C profit - no max.

VolvoGirl

Level 15

So check your W2s. You may have entered box 4 wrong (or left it out). That won't show up anywhere on your tax return except in the SE tax. Look for the $408 difference in W2 box 4 or less if the IRS added interest to your refund.

spohrerga1Author

Level 2

No W2s. Just 1099s and Schedule Cs. And all the Turbo Tax income numbers match the IRS transcript. The self employment tax is different which also affect AGI becuase half the SE tax is an adjustment.