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advice on what to do next…

* I am self employed and I use quickbooks self-employed to help me manage my quarterly payments*

 

I filed my 2019 taxes with turbo tax, now in 2021 as I’m going through a mortgage lender who needed transcripts for the past two years, I find out my 2019 is still processing, I gave a call to the IRS to find out what’s going on and they said due to covid to give it some more time, I waited 3 months and still nothing, so I called and called until finally someone told me a form was missing (something to do with a 1090A, health form) and they’ve been trying to reach out to me.

I got assigned a tax advocate to help. I sent in the document that the IRS needed.
a few weeks go by and comes to find out the REAL reason my 2019 taxes are still processing was an error on 2019 tax return (when I filed I put the total taxes I paid which were $3,991 and it stated in line 10 on 'additional taxes' total tax $4,572 (I sent in $581 with my return back in April 2020) and now I have a notice from the IRS stating that they fixed my 2019 taxes themselves June-July 2021 and I owe them $1259.07 + penalty and interest by September 2021.

 


I'm just confused on what I did wrong.

 

 

Will turbo tax help me figure out what happened here? The IRS is saying to contact who I filed with because they can only accept the payment or discuss setting up a payment plan

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3 Replies

advice on what to do next…

Reviewing a past year return is out of scope for the TurboTax Live team.  You might have to go to a brick and mortar tax office if you want someone to analyze your 2019 return.

advice on what to do next…

we can't see your returns or notices. if you don't understand what's going on we have a much harder time because of this. try contacting the tax advocate for a clear explanation.

 

your other choices

view a transcript of your 2019 return which would show as filed and as adjusted by the IRS

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

pay a tax pro to go over all your documents and notices.

or use a service provided by a Turbotax partner

The Audit Defense service is provided by TaxResources, Inc., also called TaxAudit.com, in partnership with TurboTax. If you paid for Audit Defense and you received an IRS notice, call TaxResources, Inc. at 877-829-9695, or report your IRS notice on their website at http://intuit.taxaudit.com/.

 

this is a wild guess.

the form missing from your return was Form 8962 Premium Tax Credit (Obamacare). the information to complete it comes from Form 1095A Health Insurance Marketplace Statement. The  8962 computes the allowable amount of advance premium tax credits (PTC) and the amount that has to be repaid.  If you left this form off your return and were required to pay back some of those credits as shown on line 29 you owe that amount.  if you owe this would likely lower any deduction on Schedule 1 for self-employed health insurance but possibly increase the QBI deduction on line 10 of form 1040.  omitting the form can affect the amounts on other lines and thus change the amount of the taxes you owe. 

 

y   

advice on what to do next…

@rebeccacj 

As I mentioned in your other thread,  if you did not purchase the Audit Defense product, you can contact TurboTax free Audit Support Center for help with an IRS letter and how to respond to it, and while you have them on the phone see if they can help you figure out what the problem was with the 2019 return.   The phone number for the free TurboTax Audit Support Center is:

800-624-9066

Hours 5AM-5PM Pacific (8AM-8PM Eastern) Mon-Fri   (closed Labor Day)

If you get an automated system, when prompted, say "speak to an agent about an IRS Letter". 

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