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anita1975
New Member

Miscalculation of Recovery Rebate Credit

I agree.  I also experienced the glitch and now owe plus interest!

ax2021
New Member

Miscalculation of Recovery Rebate Credit

I got a letter stating they made a $2100 tax "miscalculation" because of a recovery rebate credit.  F#(! turbo.  When I called support they said that's just what the IRS does.  Not using this product again, going back to paper or do them at the IRS site.

Miscalculation of Recovery Rebate Credit


@ax2021 wrote:

I got a letter stating they made a 2100 tax "miscalculation" because of a recovery rebate credit.  F#(! turbo.


The letter from the IRS probably is stating that you indicated on our 2020 federal tax return that you did NOT receive a stimulus payment and therefor the amount that you did not receive was entered on the Form 1040 Line 30 as a Recovery Rebate Credit.

However, the IRS removed the credit from your tax return because the IRS shows that the stimulus payment was sent to you.  By removing the credit this reduces your federal tax refund or increases the taxes owed.

 

Go to the IRS website for your tax account to see what the IRS has sent to you for stimulus payments - https://www.irs.gov/payments/view-your-tax-account

 

If you never received the stimulus payment shown on your account then have the IRS put a trace on the payment.  Go to this IRS website for how to start a trace - https://www.irs.gov/newsroom/questions-and-answers-about-the-first-economic-impact-payment-topic-f-p...

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