My requested refund and my actual deposit received from the IRS for my federal refund are different (by about $3). I need to know why they're not the same?

treanor123 · ‎January 14, 2022

My refund from the fed was submitted as 1573 on my tax return. But the IRS credited me 1576.62 into my bank account. I'm currently in underwriting for a new mortgage, and the underwriter is requiring I document why they are different, and I can't explain why I submitted 1573 on my return through TurboTax, but received 1576.62.

Mike9241 · ‎January 14, 2022

the extra $3 was probably interest that the IRS was required to pay when refunds were not timely made. it'll be taxable income in 2022

xmasbaby0 · ‎January 14, 2022

Only the IRS can explain it. But if you waited for a delayed refund the extra amount was most likely interest that the IRS paid you. They will be sending you a 1099 for it and believe it or not you will have to report the interest on your 2021 tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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My requested refund and my actual deposit received from the IRS for my federal refund are different (by about $3). I need to know why they're not the same?