It sounds to me like you indicated on your return that you did not receive the $1,200 stimulus payment, but actually did. Therefore, the IRS reduced the refund showing on your account by $1,200 since you had already receive it. If you did not receive the $1,200, you have to contact the IRS: Call the IRS: 1-800-829-1040 hours 7 AM - 7 PM local time Monday-Friday
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Mine was also reduced by $1200. I understand that this is a Turbo Tax glitch. What do I do now - did Turbo Tax add the $1,200 to my refund and the adjusted amount is correct or am I entitled to the original, $1,200 larger refund?
When you reviewed the stimulus payments, there was an opportunity to make the necessary changes to the payments you actually did receive before filing your tax return. It was under the 'Federal Review' tab.
If the IRS automatically did the adjustments for you, then you should do nothing. Double check to make sure you actually did receive the stimulus payments you were eligible for.
- The CARES Act was signed into law on March 27, 2020, and the first stimulus check, which maxed out at $1,200 per person (with an extra $500 per dependent),
- The second stimulus checks for the COVID-19 relief package was set to total $600 per person, with phase outs based on adjusted gross income limits that are similar to the first relief package. Families also get additional $600 payments for each qualifying dependent under age 17.
- Check out Get My Payment FAQs and Get My Payment then determine what the IRS has on record for your stimulus payments.
I see - your telling me that this is my fault for not catching your mistake caused by a glitch in Turbo Tax. I understand the glitch has since been corrected, so you did have a problem. I have used Turbo Tax since it started - over 30 years ago. HR Block - here I come!
What glitch? I don't think there was any bug for that. You always had to enter the 2 amounts you actually got to see if you qualify for any more. If you didn't enter them or entered the wrong amount then yes, Turbo Tax would give it to you again.