CP12

[habbershawp]

I just received the CP12 notice. I got my refund a little over a week ago. I efiled and had direct deposit. Will I receive the adjusted amount through direct deposit? Or will I get a check? Also, where it says adjusted refund, is that how much more I will be receiving? Or will I get the difference between that and how much I got originally?

[MichelleLO]

For assistance with understanding the letter you received, please see the below TurboTax help article. 

I got a letter or notice from the IRS

You can also visit the TurboTax Audit Support Center by clicking here to receive help with your letter.

[VolvoGirl]

The adjusted amount is the new refund you are getting.  Not more.  It is the only refund.  They adjusted your original refund. Now you only get the new lower amount.

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 .

How much is on line 30?  Did you not get the 3rd Stimulus payment?  Or qualify for more?  Line 30 is only if you didn't get the full amount or qualify for more.  The IRS shows they already sent it to you.

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

Your Online Account | Internal Revenue Service

[VolvoGirl]

Oh you already got your federal refund?  Was it less than your return line 35a?

[habbershawp]

@VolvoGirl My federal refund was originally 2377. Then, on the IRS where's my refund page, it gave me an adjusted amount (3127) which was deposited on March 29th. Then I got the CP12 notice on the 4th of April which was dated April 4th, which states my new adjusted refund is 4527. So will I get another 1400? And will it be direct deposited as well

[VolvoGirl]

Sorry I don't know.  Most of the adjusted questions are about reduced refunds, not getting more.  I think you will get it the same way.  Looks like you get more.  Did you leave off a dependent or have a new baby?  

1400 is the Stimulus payment for each person.  You might have entered the wrong amount for the 3rd Stimulus payment and had a low amount on line 30 for the Recovery Rebate Credit.

The 750 could be for anything.  Maybe the Child Tax Credit on line 28?

[habbershawp]

@VolvoGirl I had a new baby and did claim the new baby, but I did not claim my first son, so maybe they added him on? It is saying that I "overpayed", stating I had 4752 in payments that I've made, and taxes I owed were 225, so the refund is now 4527. 

I receive all my stimulus' and claimed them as well lol so I'm really confused... I guess I will just have to wait to see what happens, haha. Thank you!

[1PCT]

They will send the new amount by check or direct deposit.

[Nwise2154]

so did you receive the refund?