Missing funds

[Kennedynicholash]

My wife and I filed taxes jointly. Our tax return was accepted by the IRS for $9027. However $3000 is missing. We do not owe anything. I have seen multiple post that they are missing money this year. 

[VolvoGirl]

Do you have a child?  That maybe for Advance Child Tax Credits you already got.  Check 1040 line 28.  

[xmasbaby0]

One guess----did you receive advance child tax credit payments from July to December for two children over the age of 5?   Did you enter that on your tax return?   What was on line 28 of your Form 1040?

[Kennedynicholash]

We had our first child in October of 2021. We never received a credit

[DMarkM1]

On your copy of your form 1040 in the dependents section is the box in column 4 checked for the Child Tax Credit?  If not, you may not have indicated in the "My Info" section for your daughter that she lived with you all year.  If you only put in 3 months due to the birth in Oct you will need to amend your return to indicate she qualifies.  A child who was born in the tax year is considered to have lived you all year if he/she lived with you the entire time since birth.

If you need to amend here is a link that may be helpful. You will sign in to your TurboTax account and select the "Amend" option and follow the prompts.

You should wait for your refund to be deposited for your original return indicating it has been processed before filing the amendment.

[VolvoGirl]

Which box is checked at the top of 1040 for your child?  If the Child Tax Credit box isn't checked you answered something wrong.  Try deleting the baby and re enter him under My Info.

Be sure you said the new baby lived with you the WHOLE YEAR!  Go back and check that.

If you had a child born in 2021- Add them under My Info. You need to answer 2 questions…..

Did your child live with you for the whole year? Answer YES even if they were born late in the year (even on Dec 31).

Then was at least half of child's expenses paid by CHILD? Usually is NO.

[Kennedynicholash]

The box was checked

[Kennedynicholash]

The Child tax credit box is checked

[VolvoGirl]

How much is on line 28?  Anything?  And line 30.  If your income is too high the Child Tax Credit and Recovery Rebate Credit will be phased out.   I can't think of anything else.  Unless the IRS increased your income and made you ineligible for the credits.  

Or maybe you tried to claim the 3rd Stimulus payment for you and your spouse again on line 30?  Line 30 should be only the 1,400 for the baby.  

[Kennedynicholash]

Line 28 says 3,600. Line 30 says 4,200.

[JamesG1]

Did line 30 of your Federal 1040 include a Recovery Rebate Credit for the new child?  If you only received two of the third stimulus payments, you should have received the third as a Recovery Rebate Credit (RRC) on line 30 of the 2021 1040 tax return.

You have e-filed your 2021 Federal tax return and the tax return has been accepted by the IRS.  If the IRS has reduced your refund, they will be sending you a communication explaining why they reduced the amount of your refund. 

Once you know the nature of the problem, you may be able to correct the problem by amending your 2021 Federal tax return.

@Kennedynicholash

[VolvoGirl]

Line 28 is right.  But line 30 probably should be only 1,400 for the new baby.    The IRS probably shows they already sent you the 2,800 for you and your spouse.  

Double check your bank statements and Check your IRS account to see what they sent you (check both spouse's accounts if married)

Your Online Account | Internal Revenue Service

Request a trace for a missing third Stimulus payment

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-p...Your Online Account | Internal Revenue Service