I made a typo mistake when entering advanced child tax credit on my e file. Instead of $1,500 I entered $1,250. Will IRS correct this error automatically? It has already been accepted by IRS so I wanted to find out if this minor error will affect me.
Also, will that delay the approval of my return? Will they have to write to me before approving and issue my refund?
The IRS should correct the error and adjust your tax return accordingly since they already know how much of the credit was sent to you.
@swaila2 wrote:
Please Thank you for the reply. So will that delay the approval of my return? And also Will they have to write to me before approving and issue my refund?
It may delay the refund but the IRS will not need to send you any correspondence concerning the error.
The IRS should correct the error and adjust your tax return accordingly since they already know how much of the credit was sent to you.
Please Thank you for the reply. So will that delay the approval of my return? And also Will they have to write to me before approving and issue my refund?
@swaila2 wrote:
Please Thank you for the reply. So will that delay the approval of my return? And also Will they have to write to me before approving and issue my refund?
It may delay the refund but the IRS will not need to send you any correspondence concerning the error.
So they will have to correct the error before approving isn't it?
Yes, they will. And it is possible that the error will delay your return significantly.
The IRS is already behind going into this tax season and they have said that any tax return that has to be sent to be manually reviewed in order to adjust a credit will enter in to a backlog of over 6 million returns. I'm afraid you need to plan not to receive any notice from the IRS about your return for up to six months. And, unfortunately, any paperwork attempt to correct the issue will only result in further delay for your return.
Here is the Taxpayer Advocate's annual report on this exact topic.
Does it mean all electronic filing will be reviewed manually this year?
Thank you