TurboTax said federal refund would be 10K, but when I received it in my account, the amount was 7k. My state refund amount was correct. Will I receive rest of my refund?

[Critter-3]

MY REFUND WAS LESS THAN I EXPECTED

There can be a number of reasons why your refund was less than the amount you expected. First of all, look carefully at your actual tax returns.  There is sometimes confusion about the amount of refund to expect when users misinterpret the “summary” they saw in TurboTax. The amount of your refund is on your tax return.  Federal refund is on line 34 on Form 1040  State tax forms are all different so we cannot tell you what line to look at on your state form.  BUT it is important to actually LOOK at your tax return forms yourself and see the amounts of your tax refunds and/or tax due.  A lot of confusion would be avoided by doing that.

TurboTax does not receive feedback from the IRS regarding money that was offset from your refund.  If you owed back taxes, child support, student loan debt, etc. you will receive a letter of explanation from the IRS in several weeks.  The WMR site will contain a message regarding your offset.  It is also possible that the IRS caught a mistake you made and reduced your refund. 

A possible reason for the reduction could be that the recovery rebate credit was completed incorrectly and you may have entered the amount of stimulus already received wrong, which could have reduced the refund you thought you were seeing.

[stephanie.a.kind]

My line 34 is the 10K. I did not receive $3000, which was the amount of the child tax credit from Schedule 8812. I  did not receive the tax advance payment, for my qualifying child and claimed it in my 2021 tax return. I am wondering why it was not included in the amount I actually received.

[stephanie.a.kind]

Also, the refund is from SBTPG LLC...is this TurboTax affliated? I don't understand how my federal return was accepted but the refund amount doesn't match.

[KrisD15]

The IRS will send you a letter explaining their adjustment. 

You will have the option to accept or appeal the change. 

Did you report the Advance Child Tax Credit Payments you and your spouse received? 

If you claim two dependents, and you received 3,000 advance payments, you should be due a 3,000 credit.

If you only claim one dependent, you may have already received the full amount if you received 3,000 total in payments.

Did you enter the amount which was reported on your Letter 6419?

[stephanie.a.kind]

There is one child and I did not receive an advance payment. I am not married, I share custody. 2021 was my year to claim my child (we alternate). I did not receive the 2021 advance payment because those were based on 2020 tax returns (the fathers year to claim the child). However, I should still be able to claim the credit. How do I go about getting this fixed?

[Critter-3]

Wait for the IRS letter explaining the change and your options to challenge their findings.  

[SweetieJean]

Your Federal tax return (filing) was Accepted for processing.  Approved is a later step, and the IRS can (and did) change the amount of your refund.

the refund is from SBTPG LLC...is this TurboTax affliated?

SBTPG is a third party bank that handles the deduction of the TT fees that you elected to have paid from your Federal refund.  Going forward, you can avoid this step (and save the extra charge) by paying the fees up front with a debit or credit card.