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sklemka17
New Member

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

 
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5 Replies

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

A Federal refund or a State refund?   If you have both, they come separately.
sklemka17
New Member

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

I didn’t owe anything for state taxes and I wasn’t due anything back either

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

I don't understand.  Let me ask this way:

Who was the deposit from?    Was the refund you received in your bank a Federal refund from the US Treasury, or was it a State refund from the state tax agency?
sklemka17
New Member

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

It was a federal refund

The refund deposited into my bank account is $1000 less than TurboTax said I would be receiving. Any ideas why?

If the IRS decreased your Federal refund, you should get a postal letter from them in about 3 weeks or so explaining why your Federal refund is less than what you filed.  The letter should also tell you steps you can take if you disagree with their decision, including a contact number for you to phone them if desired.  The following help article will tell you a bit more about possible causes, how to check for any offsets, etc.

https://ttlc.intuit.com/questions/1894477-why-did-my-federal-tax-refund-decrease-after-i-filed

The IRS has said:

"Examples that could decrease your refund include math errors, mistakes, delinquent federal taxes, state taxes, child support, student loans or other delinquent federal nontax obligations, and when the IRS withholds a portion of your refund, if further review is needed."

If you want to talk to the IRS before you receive the letter to see if you can learn anything, here's how:  800-829-1040  hours 7 AM - 7 PM local time Mon-Fri

  • First choose your language. Press 1 for English.
  • Then do not choose the first choice re: "Refund", or it will send you to an automated phone line.
  • Instead, press 2 for "personal income tax".
  • Then press 1 for "form, tax history, or payment".  
  • Then press 3 "for all other questions."
  • Then press 2 "for all other questions."  It should then transfer you to an agent, but there is likely to be a long wait.
I usually use a speaker phone so I can work on something else.

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