Refund

[casie0131]

Yes my status says still processing and now I just received an email from Turbo Tax saying they are going to charge me $42 for filing fees since the IRS has not full processed and released my refund.  That is out of my control.  Absolutely ridiculous for Turbo Tax to charge me for the IRS delaying the release of refunds.

[csdsjpd30]

I have never heard anyone have this happen. Something else must be the cause. It’s free to file unless you want the insurance. 

[Tabzmaniandevil92]

Did they say how long it was gonna take??

[VolvoGirl]

Are the fees supposed to come out of your refund?

Turbo Tax says......

We understand that these are unprecedented times and we’re committed to helping our customers who are experiencing hardships. If you’re in need of assistance, call us by the Tuesday prior to your debit date at 1-888-808-1723 to speak with a trained specialist and mention “auto-debit”, or visit TurboTax Support.

From top of this FAQ

https://ttlc.intuit.com/community/charges-and-fees/help/why-was-my-bank-account-auto-debited-for-tur...

[kgulden2466]

Same thing happened to my sister and she too has done her taxes the same way and she received ZERO interest, now if we owed the IRS you know we she would have gotten a one bill! this is ridiculous that they are getting away with this. 

[Sevans89]

My understanding is a lot of refunds that were filed are delayed due to Biden’s stimulus payments. If you however keep checking the irs website it may be delayed in telling you when your refund is to deposited. We are going through the same thing however if you go to irs.gov and instead of searching where’s my refund and click on create an account and sign in you’ll beable to view your transcript for this year and it should tell you when it will be deposited. Ours did today however it is giving us $1,000 less than what we were told we would receive. 

[Dmacc55]

I have literally the exact same issue 100% only difference mine was accepted feb 18th & had the 507c1 letter come in mail verified my identity & over a week now still not a single update or anything. 

[Corie909]

Thank you so much for this info. Mine shows it will send me my refund 4/5/21 and my 600 stimulus that i never received 4/15/21.   Now I guess for the 1400 i will have to wait till next? :( 

[srf2021]

I am a programmer and do some contract work.  I don't get W2's from the person who hires me and no taxes are withheld from my paychecks.  Where do I plug in the wages so taxes can be taken out of the extra money I earn?

[VolvoGirl]

@srf2021  That is self employment income.

To report your self employment income you will fill out schedule C in your personal 1040 tax return and pay SE self employment Tax.  You can enter Self Employment Income into Online Deluxe or Premier but if you have any expenses you will have to upgrade to the Self Employed version.  How to enter self employment income

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

For the future, you should use a program like Quicken or QuickBooks to track your income and expenses.  There is a QuickBooks Self Employment bundle you can check out which includes one Turbo Tax Online Self Employed  return....

http://quickbooks.intuit.com/self-employed

You will need to keep good records.  You may get a 1099NEC at the end of the year if someone pays you more than $600 but you need to report all your income no matter how small and if you don't get the 1099NEC.

You use your own records.  You are considered self employed and have to fill out a schedule C for business income.   You use your own name, address and ssn or business name and EIN if you have one.   You should say you use the Cash Accounting Method and all income is At Risk.   

After it asks if you received any 1099Misc or 1099NEC it will ask if you had any income not reported on a 1099Misc. You should be keeping your own records.  Just go through the interview and answer the questions.   Then you will enter your expenses.

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  

The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 Schedule 2 line 4 which goes to 1040 line 15.  The SE tax is in addition to your regular income tax on the net profit.  You do get to take off the 50% ER portion of the SE tax as an adjustment on 1040 Schedule 1 line 14 which flows to 1040 line 8a.  Turbo Tax automatically calculates the SE Tax and Adjustment.

Here is some IRS reading material……

IRS information on Self Employment

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

Pulication 334, Tax Guide for Small Business

http://www.irs.gov/pub/irs-pdf/p334.pdf

Publication 535 Business Expenses

http://www.irs.gov/pub/irs-pdf/p535.pdf

[Prince_bound]

Got my line 30 it was automatically entered after the calculations. So how it is n error ?

[Truthseeker01]

The same here supposedly accepted on 2/12 nothing!!! No federal also qualified for stimulus nothing!!! Beyond frustrating.  I will be  looking at another tax preparation software next year.  I was researching online with no help from turbo tax whatsoever and saw that due to the unemployment “credit”. That they would not be sending those refunds till May!!!!    Apparently if you filed prior to the credit being added the taxes were “wrong” and had to be hand corrected so that was what was causing the holdup.   So unless someone hears something different this is partly Turbo taxes fault for this hold up. 

[ch67]

I have the same exact problem.  I received my stimulus checks and I tried to put 0 for line 30.  Apparently TurboTax still put $400 on line 30.  I finally got through to the IRS to find my return.  The lady didn't have any answers for me, but I did finally get her to check over it and we caught the part for line 30.  

We are not the only ones who have this problem.  This is when I found out that quite a few tax people such as TurboTax have been doing this to many people.

She was very sorry (to her credit-she really was sincere.  She was a very nice person.  It was unexpected)

there was nothing that she could do to help me, nor giving me a time frame on the status of my expected refund.

She said that all I could do was wait-and that they were extremely understaffed so it would take longer for me to see my refund.  The amount will change, because of line 30.  

No. I am unable to do anything like file an amended return because I have to just wait for the IRS to give a final decision first.

So as of today, it still says "processing".  I tried to have my taxes done first thing  this year so I wouldn't be going through messes such as this or worrying about getting it done last minute.

I've been using TurboTax for over 10 years-this is the first time that they have screwed up so badly.  Unfortunately they also seem to raise their prices each year.  So I am EXTREMELY unhapppy with the service that I have paid for. Especially since when I talked to them-the guy just said nothing was wrong with my taxes at all.  Certainly not from something that they did.  We went over it-he didn't catch the line 30 part-even though he asked me about my stimulus checks.  He told me that I needed to wait 21 BUSINESS days from february 12.  Even if it originally told me to expect my refund on March 5, 2021.

It had been a week past this date when I called TurboTax.

I am hoping that I will find out something, at least, from the IRS soon.  Just as long as they make a decision.  If I have to make an amendment or receive my refund.  At least then I can take some form of action.

[ch67]

I so agree with you on this one.  I believe that we should get our money back from Turbo Tax.  I spent over $100 dollars to the, to ensure that my taxes were done correctly and supposed to be there for online and live person for customer support.

They have not lived up to that this year.

[ch67]

I am with  you on that.  I am not upset with the IRS, only frustrated at trying to get a real person.  I AM upset with TT.  I believe that they need to refund my money that I paid them to do my taxes, etc.  I paid the upgrade like I have been doing the last few years.  Now their mistake is costing me even more money.  

I am disappointed with them-used to be all for them and promoted them to my colleagues.

I filed and on Feb. 12, it said refund on Mar 5.  Then it went to processing with code 152.  TT told me 21 BUSINESS days and that it was all okay.  Just an error on IRS part.

I finally got ahold of the IRS, who told me about line 30.  We checked and sure enough TT had put an amount in that line-and I received my stimulus checks, so it should have been zero.

She then apologized bc there was nothing I could do at this time but just simply wait. Because they are so understaffed and overwhelmingly busy-it was going to take awhile.

I just want a refund from TT for all of this.  This is EXACTLY what I paid them so as stuff like this wouldn't happen.