ERROR in Turbo Tax Calculations for Federal Economic Stimulus Payment Due To TT FORM "Recovery Rebate Credit Worksheet".

[ntlbrittain]

I'm not sure, but I believe I answered something wrong. I was supposed to get$1435 and I only received $35 . I received a letter from the IRS , CP 12. There's no way I shouldn't have gotten a refund from my employment due to me answering something wrong. I answered I didn't receive the $2800 because I really didn't remember getting it. I checked with my bank and I did receive it. I've had no luck in getting this resolved

[xmasbaby0]

@ntlbrittain If you actually received the 3rd stimulus of $1400 per person, and you answered incorrectly when the software asked about the 3rd EIP,  the IRS reduced your refund.   There is nothing to resolve, since the IRS already resolved it by reducing your refund by the incorrect amount on line 30 of your Form 1040.   

[NCperson]

@ntlbrittain - agreed; nothing to be resolved.  The IRS made the adjustment and provided you the refund of $35, which is what Turbo Tax would have displayed if you had asnwered the question about receiving the $2800 correctly...

Does that make sense?

or do you think your refund shouldhave been more than $35? if so, why? 

[ntlbrittain]

Thank you

[ekoshel]

Same thing happened to me.  I purchased extra protection, so TurboTax is looking into it for me, but it's been months and I haven't heard anything.

[ntlbrittain]

Yes that makes sense, thank you

[ntlbrittain]

Keep me posted

[dadspony]

Yes it happened to us as well. Refund went from $15K to $3500. Why doesn't TurboTax send out a notice advising us on what happened???

[NCperson]

@dadspony - the reason TT doesn't send out a notice is there is no feedback loop from the IRS to Turbo Tax.  Once your return is submitted to the IRS, the IRS maintains the confidentiality of your information and only communicates with you. 

if you need help understanding why your refund dropped so much, this forum can help you understand it.  

1) what is on Line 30?

2) how many people did you list on your tax return? 

3) how much did you receive for the 3rd stimulus? please look in your bank account statements from March - May, 2021.  Please do not go on your memory; literally review the bank account statements

Line 30 = 2) above times $1400 LESS 3) above, but not less than zero. 

if your income was above $150,000 (or $75,000 for single filing), the calculation is a little more complex, but over $160,000 of income ($80,000 for single filing),  Line 30 will be zero. 

does that help?

[UAU]

Yes, we are dealing with a similar issue, owing $1722 to the IRS instead of the $384 refund calculated and filed! Today (06/06/22) is IRS deadline to institute full repayment or repayment plan(s). Final deadline to resolve the matter with the IRS is 07/15/22. We are unsure of how best to handle this. Does anyone have any ideas, including on how Intuit TurboTax can help? If so, please share.

[Critter-3]

The difference is $2100  so it this the amount on line 30 of your form 1040?   Did you & your spouse file a joint 2020 return with one dependent on it ?   If you did then you got $4200 in the third stimulus payment sometime from March to December of 2021 ($1400 x 3 on the return)  and I bet you only reported getting $2100 and not the full $4200  you got ... did you only get one 6475 letter from the IRS for one of you showing only $2100 ?  Even if you did not get the second letter for the other spouse for $2100 you still had to report it ... you were only allowed the credit  OR  the advance payment.   So the IRS says they sent you the full $4200 and you are not entitled to the $2100 credit. 

[NCperson]

@UAU  the issue is normally related to not correctly entering what you received from the IRS for the stimulus into TT.

Did you use Letter 6475 to enter $2100 into Turbo Tax as the amount received? if you filed joint, there were TWO letters, one addressed to each spouse, so you were to enter $4200.  Is that what occured? 

Please look at your bank account statements from March - May, 2021? do you see a $4200 in deposits from the iRS? 

if yes, and there are just 3 people listed on your tax return, then Line 30 should be 0.  I suspect it is $2100.  That correct reduces your refund / increases what you owe by $2100.

if this is what occured, then the IRS is correct.  

[1Tonya-Kyle]

This is Jacquelyn Turbo Tax Code # [removed]. We never received a refund last year for 2020.  We also never received a stimulus payment from the IRS last year. I don't know were the Recovery Rebate Credit amount of 2,800.00, came from on 1040-SR line # 30. In the Year 2020 we owed the IRS $ 380.00,

which we paid. Now the IRS is stating that they don't owe us a refund for 2021.  I request that Turbo Tax review our Tax Forms that we filed with you and let me know what the issue is with the filing  and  what has  This was our first year using your gone wrong.  According to your calculations we where suppose to receive a $ 2800.00 refund from the IRS. Please advice. 

from: Jacquelyn, [email address removed]

[Critter-3]

@1Tonya-Kyle 

STOP posting personal info on a PUBLIC internet forum where scammers troll for easy marks ... no one legitimate will ever call you from TT, the IRS, SS admin, amazon, etc.

Answering No on the question asking if you received a 3rd stimulus payment means you told TurboTax that you did not receive any payments.

In that case, TurboTax would add an amount on line 30 Form 1040 because you said you never received any stimulus money.

If you never received a stimulus deposit or check—and the IRS says they paid you—then you should ask the IRS to trace your payment.

The fastest way to initiate a trace is to contact the IRS by calling us at 800-919-9835.

You can also complete Form 3911:

• Write "EIP3" on the top of the form to identify the payment you want to trace.
• Complete the form answering all refund questions as they relate to your Economic Impact Payment.
• When completing item 7 under Section 1:
• Check the box for "Individual" as the Type of return
• Enter "2021" as the Tax Period
• Do not write anything for the Date Filed
• Sign the form. If you file married filing jointly, both spouses must sign the form.

You will generally receive a response 6 weeks after we receive your request for a payment trace, but there may be delays due to limited staffing. 

[Blessedami]

Well if you are think that’s something I found my taxes and Suppose to get back $2000 and something dollars I only got back $624 Got a letter from IRS saying that they sent me out $702 which I think that it was a scam letter and on top of that I got a letter telling me about the refund from IRS and said that if I don’t think that the amount is right to contact them by May 26 and I still haven’t been able to get through to IRS. I found with TurboTax every year and this is my first time having this problem my bank statement said that my $624 was deposited into green dot bank and then later on I find out that it was deposited TPG. I don’t understand what’s going on but something just ain’t right. I received that amount of money in March and I haven’t been able to get in touch with anyone about anything . Can someone give me some type of feedback on this please! Who do I contact and what number can I get through to?