2021 tax return filled, now IRS says I owe

[foxglen]

I filed a 2021 return.  I have a summary PDF copy.  IRS says I owe.  I lost the electronic file I filed.  What should I do next?  Recreate the 2021 as a new file?  If that shows a mistake or not, then what are my options to replace the previously filed return?  I have no electronic file to amend.   

[Mike9241 · Accepted solution]

the IRS should send you a notice explaining the changes or you can register and look up your tax return transcript to see what lines were changed.

https://www.irs.gov/individuals/transcript-availability 

[foxglen]

I did get the notice from the IRS and I did downloaded my free transcript (should have included that).  I had hoped to submit a replacement tax return but now understand that is not possible.  I think I will pay what is owed, Construct a new 2021 return, compare it to the transcript and summary 2021 PDF, and if needed will then submit an amended return to get back any due funds.  An amended return I understand is not a revised one, but instead is telling the IRS what specific entries you want changed.   I was just checking to see if I had any other options.  I know I can get  actual copies of my 2021 return but that seems expensive and time consuming.   Thanks

[VolvoGirl]

If the IRS adjusted your return for you then you don't need to amend.  Do you agree with the changes?   What did the letter say was wrong?  Is it a generic letter list like 5 things?

The 2 most common reasons this year is you entered the wrong amount on line 30 for the Recovery Rebate Credit (3rd Stimulus payment) or line 28 for the Child Tax Credit.  Those lines are just if you didn't already get the full amount or qualify for more.  The IRS knows what they already sent you.  

A lot of people answered the questions wrong and tried to claim the credits again.  Double check your bank statements to see what the IRS sent you during the year for the 3rd Stimulus payment and Advance Child Tax Credit .

[foxglen]

Yes, the IRS letter cited five possibilities and one was the amount entered in the Recovery Rebate Credit.  I had read if you didn't get the full amount (my case - checked my bank statements - but will recheck), you could get it via the tax return.   If it comes down to just this, I will have to file a separate form to recover funds I did not receive. 

[VolvoGirl]

Double check your bank statements and Check your IRS account (both accounts if married)

Your Online Account | Internal Revenue Service

If the IRS thinks they sent it to you but you didn't get it 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...

[fanfare]

generally if the IRS sends you a bill  because of an adjustment, you pay it. That is the end of the matter

[foxglen]

Ahh, found stimulus deposit in reviewing bank statements.  Turns out I forgot the missing one was sent via a gift card.  So, when processed there was no indication in the naming of the transaction that it is either from the federal government or is stimulus money.  The previous amount had embedded in the electronic description that it was a federal transmission and stimulus funding.   Who knew?

[bubbalou43]

I think many people have this problem. It has to do with the final Pandemic recovery allotment. Sure, the IRS gives a list of possible errors but they do not specifically state which error I had. But this is not the real problem. In completing my return on TurboTax, my income, Social Security, the size of my family, etc is all available. A little TurboTax research on the requirements for receiving the Pandemic allotments in addition to having me state whether I received the funds or not, could have made it possible for me to complete my tax onus and go on with the rest of my life.