Where's my Money!!!!!

[mrjffwilhelm]

I am Super Pissed!!! I file this year for my 2021 Taxes and I'm supposed to be getting $4,231 back.. I got my state taxes back  So I look in my bank account and I see that I got a deposit of $892.03 from this company called TPG Products/SBTPG LLC.  WHO IN THE HELL ARE THEY? and WHERE IS MY BALANCE OF $3,143.97. SOMEONE IS DEFINATELY STEALING FROM THE TAX PAYERS.  THIS IS NOT CORRECT WHEN PEOPLE ARE IN DIRE STRAITS OF NEEDING THAT MONEY TO PAY FOR THINGS SUCH AS RENT, UTILITIES, INSURANCE, CAR, ETC. ,AND WE HAVE UNTRUSTED PEOPLE OUT THERE WHOM CAN'T OPERTATE A COMPUTER ON THE OPPOSITE SIDE AND TAKE OUR MONEY AWAY FROM US.  THAT IS NOT CORRECT AND IT'S FRAUD.  I WANT MY MONEY AND I NEED IT NOW!!!  WHERE IS IT AND HOW CAN I GET IT!!!!?

[xmasbaby0]

SBTPG is the third party bank that handles refund processing when you choose to have your TurboTax fees deducted from your federal refund.   That bank has been providing that service to TurboTax for years, so if you have used refund processing in the past, your refund has been handled by SBTPG before, too.   

Before you get too angry, you have some things to look for that might explain why your refund was less than you expected.   It is entirely possible that your refund was reduced by the IRS.    You need to check and see if you entered information correctly from your letter 6475 that the IRS sent to you showing how much of the stimulus for $1400 per person was sent to you, and you need to check to see if you entered the amount of any advance child tax credit payments that were sent to you---as shown on your IRS letter 6419.  Those were the monthly payments sent out for children up to age 17, in the amounts of either $250 or $300 per month between July and December.

If your refund was short by $1400 per person---it is likely to be a mix up regarding the 3rd EIP payment.   If it is short by $1800 or  $1500 or  a multiple of that amount  ---   maybe a mixup regarding the advance child tax credit payments.   

Or---the fees you were supposed to pay for using TurboTax + the "refund processing fee" charged by the third party bank….

Did you choose to have TT fees deducted from your Federal refund?  (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99 or $44.99 in CA)

How can I see my TurboTax  fees?   

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

What is Refund Processing Service?

The IRS will send you a letter that explains why your refund was reduced.   Meanwhile it might help you to check your online IRS account.

https://www.irs.gov/payments/your-online-account

https://blog.turbotax.intuit.com/tax-refunds/why-is-my-tax-refund-not-what-i-expected-49240/

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-round-economic-impact-payment-top...

If you need to trace a payment that the IRS says has been issued to you, mail or fax a completed IRS Form 3911, Taxpayer Statement Regarding Refund.

[NCperson]

@mrjffwilhelm - let's get beyond the emotion and figure out what occured.

Most EVERYONE complaining on these boards has one of these two issues and it relates to Line 28 and Line 30 of your Form 1040.  Please take our your tax return and review what is on these two lines.

1) Did you receive your 3rd stimulus back last March - May, 2021? If yes, Line 30 should be zero.  Many failed to enter what they had already received when prompted by TT, which inflated Line 30.  The IRS is correcting that before issuing the refund (which has the impact of lowering the refund)

2) did you receive advance child tax credits last July - Dec, 2021? if yes, Line 28 was to be reduced by the amount already received. Many failed to enter what they already received when prompted by TT, which inflated Line 28.  The IRS is correcting that before issueing the refund (which has the impact of lowering the refund)

in both situations, the IRS is checking your tax return against their records of what they sent you during 2021.  if there is a discrepancy, the IRS is reducing the refunds to match their records. 

does that help?