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We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

We've been under the full impression from our TurboTax processes that our 2020 and 2021 taxes are paid in full, so this is a confusing mailing to receive.
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5 Replies
rjs
Level 15
Level 15

We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

What does the IRS notice say they changed? What is the notice number or letter number at the top right, starting with CP or LTR?

 

We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

usually what has happened is that the info the IRS has does not match what you reported. the two most common items are the economic recovery payment 3 and the advance child tax credit. 

 

rjs
Level 15
Level 15

We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

Those two most common items only apply to 2021. The question is about 2020.

 

We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

You can try giving the TurboTax Audit Support Center a shot.

 

https://support.turbotax.intuit.com/irs-notice/audit-support

 

We received a bill from the IRS about a change to my 2020 Form 1040 that now requires us to pay more in taxes. Does anyone know how come these changes were made?

@rjs - yes, but the recovery rebate credit issue is the same issue on both 2020 and 2021 tax returns. 

 

If you reported that you received less stimulus than the IRS records indicate, then the IRS reduces the refund / increases taxes due.

 

and FYI: if you reported that you received MORE stimulus than the IRS records indicate, the IRS does nothing; they expect you to amend you tax return to capture any monies due you.

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