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Hello, We filed our taxes through turbotax and a refund was estimated. We received a bill for over $2,000 instead. Thoughts?
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Hello, We filed our taxes through turbotax and a refund was estimated. We received a bill for over $2,000 instead. Thoughts?
How much was the refund? What did the IRS letter say? 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 and Check your IRS account (both accounts if married)
Your Online Account | Internal Revenue Service
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Hello, We filed our taxes through turbotax and a refund was estimated. We received a bill for over $2,000 instead. Thoughts?
@aechacon03 - most every post on these boards where the IRS adjusted has to do with either the Recovery Rebate Credit or the Child Tax Credit. If you respond with the following, I can figure out what occured:
1) what is the EXACT amount of the IRS adjustment?
2) what is on Line 28 of Form 1040 of your tax return? (and if this is not zero, what is on Line 14f of Form 8812)
3) what is on Line 30 of Form 1040?
otherwise, you'll receive a letter in a few weeks that broadly, but not specifically, explains the adjustment
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