Re: Refund Decrease

I've been using TurboTax for YEARS and never had a problem. I filed our 2020 tax return electronically on 3/17/21. TurboTax calculated a refund of $2282.00 after leaving some for estimated 2021 taxes. Very simple return - only a bit of interest and retirement. I received a direct deposit "Tax REF" on 7/14/2021 of $1693.65. Never known of anything but even dollars when dealing with the IRS. Any ideas why the difference or the amount?

posted

If the IRS makes a change to your return and reduces your refund amount, they will send you a letter of explanation. (It may take a few weeks before you receive the letter.) They do NOT send that information to TurboTax, so no one here can answer your question.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

could be that you did not report receiving a $600 economic impact payment. then because the IRS was late in making the refund it paid interest (never in whole dollars) . to be sure, wait for the notice.