in Education
Turbo Tax added a credit amount of $3456 to my tax return when I did my 2020 taxes. I used this amount because I thought it was the second stimulus amount that I did not get at the time of doing my taxes. As of today I have not received my refund because I think the IRS is questioning this amount?
You'll need to sign in or create an account to connect with an expert.
You do not say what line the credit was added to. Was it on line 30 of your form 1040? Or some other line(s)? Where do you see the credit?
It is line 30 Recovery Rebate Credit
Lots of refunds are delayed. The IRS has to cross check every return that has an amount on line 30, since so many people have made mistakes when they answered the questions about the amount of stimulus money they received. The IRS cross checks and has to recalculate if you received more than you indicated when you prepared your return. So line 30 is likely to be the reason why your refund is delayed. Sorry but all you can do is wait for them to process it.
From this IRS website - https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue
As of June 23, 2021, we had 17.5 million unprocessed individual returns in the pipeline. Unprocessed returns include tax year 2020 returns such as those requiring correction to the Recovery Rebate Credit amount or validation of 2019 income used to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC). This work does not require us to correspond with taxpayers but does require special handling by an IRS employee so, in these instances, it is taking the IRS more than 21 days to issue any related refund. If, as a result, a correction is made to any RRC, EITC or ACTC claimed on the return, the IRS will send taxpayers an explanation. Taxpayers are encouraged to continue to check Where’s My Refund? for their personalized refund status and can review Tax Season Refund Frequently Asked Questions.
How long you may have to wait: The IRS understands the importance of timely processing of tax returns and refund issuance. We have processed all error free returns received prior to 2021, and continue to work the returns that need to be manually reviewed due to errors. We are rerouting tax returns and taxpayer correspondence from locations that are behind to locations where more staff is available, and we are taking other actions to minimize any delays. Tax returns are opened and processed in the order received. As the return is processed, it may be delayed because it has a mistake including errors concerning the Recovery Rebate Credit, is missing information, or there is suspected identity theft or fraud. If we can fix it without contacting you, we will. If we need more information or need you to verify that it was you who sent the tax return, we will write you a letter. The resolution of these issues depends on how quickly and accurately you respond, and the ability of IRS staff trained and working under social distancing requirements to complete the processing of your return.
What you should do: If you filed electronically and received an acknowledgement, you do not need to take any further action other than promptly responding to any requests for information. If you filed on paper, check Where’s my refund? If it tells you we have received your return or are processing or reviewing it, we are processing your return, but it may be under review. We’re working hard to get through the backlog. Please don’t file a second tax return or contact the IRS about the status of your return.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Liv2luv
New Member
in Education
ale-carrasco87
New Member
AndiW
New Member
jrmarmion
New Member
sgdesigngraphics
New Member