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Returning Member
posted Apr 7, 2022 8:45:19 AM

Refund Significantly Less than Expected

0 3 418
3 Replies
Level 15
Apr 7, 2022 9:04:54 AM

TurboTax does not get any information from the IRS after you file your tax return, so no one at TT knows why your refund was less.

 

You have not mentioned any specific amounts.  Sometimes we can make an educated guess as to the reason for your reduced refund if you mention specific amounts--for example if your refund was short by $1400---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-topic-j-payment-issued-but-lost-stolen-destroyed-or-not-received

Returning Member
May 19, 2022 10:19:18 AM

Hi, I was suppose to receive a refund of 3929 but instead received 1129. Is this due to box 30?

I looked at "where's my refund" and it says

Details:

 

Details:
We changed the amount claimed as Recovery Rebate Credit on your tax return. The error was in one or more of the following:
The Social Security number of one or more individuals claimed as a qualifying dependent was missing or incomplete.
The last name of one or more individuals claimed as a qualifying dependent does not match our records.
One or more individuals claimed as a qualifying dependent exceeds the age limit.
Your adjusted gross income exceeds $75,000 ($150,000 if married filing jointly, $112,500 if head of household).
The amount was computed incorrectly.

I checked all this and it is correct. Any advice would be helpful,

Thank You, any info would be helpful.

Level 15
May 19, 2022 10:32:45 AM

@gerda0427 - since the difference is $2800, it is surely Line 30.

 

Line 30 is supposed to be 

 

a) the number of people listed on your 2021 tax return TIMES $1400

b) less what you already received, but not less than zero.

 

the biggest confusion I see is that if you filed "joint" and entered what was on Letter 6475 into TT, there were actually TWO letters (one addressed to each spouse) and the amounts on the two letters were to be added together and entered into TT.  

 

check you bank account statements from March - May, 2021 to reconfirm what you ACTUALLY received and see if my math doesn't explain why the IRS reduced the refund by $2800.

 

does that help?