So long story short I filed my taxes and then amended them both of which have been excepted. My Turbotax page says Federal Return is $1800 and I had a notification in my bank account that on 04/12/21 (yesterday) there was going to be that money in my account. Well I opened my account today and that money is no where in site. In fact instead of paying my that money the IRS tried to take it out of my bank account. So I am trying to figure out what happened and why do I owe them this money all of a sudden when it states that is my federal tax refund. EDIT: They tried taking $1800 out of my account not putting it in. I don't owe them money why would they try to take it out?
Wait for a letter from the IRS. They do not notify TT. But it sounds like they pulled back the Recovery Rebate Credit. Or maybe your bank refused to accept the deposit for some reason, so returned it to the IRS.
Why did you amend? Did you have a tax due on the original return? 1800 sounds like the Recovery Rebate Credit on 1040 line 30 if you didn't get the #1 or #2 Stimulus payments. Did you get the right Stimulus payments or were you trying to claim some missing payments or qualified for more?
I amended because I forgot to add a 1099 from an employer I started working for in January and I got both my stimulus payments, my $600 and my $1400 from the irs.
I don't get it, what is the Recovery Rebate Credit and how come they want it back? They already gave me all my stimulus payments. Why would they be taking my money, I don't owe them anything.
long story short, we can't see your return so without seeing your form 1040 and form 1040-X it's impossible to know how the IRS would handle your submissions.
There have been 3 Stimulus payments, 1200 & 600 & the new 1400. The first one was $1,200 did you also get that one? 1800 is the amount for the first 2 rounds 1200+600. You already got them so it should not have been claimed again on your tax return line 30. It made your original refund too high.