Why did I get a deposit from TPG Products for less than half of my return?

[VolvoGirl]

@Sheshe0723   Your refund went through TPG because you selected to have the fees deducted from your refund.  And ps...there is an extra Extra $40 Refund Processing service charge for that.   So I assume your fees were about $117.  That leaves a $2,800 difference.

2,800 is the 3rd Stimulus payment.  Did you already get the Stimulus payment they sent out last year starting March 2021? The IRS has records that show you were sent the 3rd stimulus payment so they removed the $1,400/2,800 Recovery Rebate Credit.

 Do you have an amount on 1040 line 30?  You might have tried to claim it again.   Line 30 is only if you didn't get the full amount or qualify for more. 

Double check your bank statements and check your IRS account to see what they sent you.  Check both IRS accounts if married.

Your Online Account | Internal Revenue Service

Request a trace for a missing third Stimulus payment

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-p...Your Online Account | Internal Revenue Service

[Mafata08]

I suppose to get $10937.13  but today I have 9137.13. What Is my rest of the money.

[vnskenderbull]

Hey everyone, I got a deposit from TPG for less than half of my return. I went to the IRS website and checked my return status.. It said there was a change to my tax return and I should be receiving the rest of my balance in about a week. They did although take about $1,000 off of my return from what Turbotax told me I would get, so I'm curious to see what the IRS explanation form says. 

Hope this helps someone not have a heart attack, like I almost did. 

[Mafata08]

What my deposit was not from IRS?

[VolvoGirl]

@Mafata08   Because you you wanted the fees to be deducted from your refund.  So it goes through a 3rd party bank to take the fees out.   By the way, there is an Extra $40 Refund Processing Service charge (45 in California) for that service.  Which you could have avoided by paying upfront with a credit card.  

[Mafata08]

When will I get the rest of my money back

[Vanessa A]

You won't. The refund you got is what you will receive for 2021. 

What is happening a lot this year is people entered $0 when asked how much they received for the recovery rebate (or the Advanced Child Tax Credit). In reality, they did receive the money, usually by direct deposit.  So, the IRS says, hey, we are not paying you this $1,400 again, you can only have it one time.  The Recovery Rebate is ONLY for those who did not get the Third Stimulus Payment. So the IRS then adjusts your refund and removes that extra $1,400 per person on your return.

Take a look at your bank statements going all the way to March of 2021.  Many people find that they did actually receive it, but they forgot about it or just  never noticed it.

If you find you absolutely did not receive the payment, you can call the IRS at 800-829-1040 to find out where they sent it.

[Mafata08]

Can you please explain what is 3rd party bank.

So the free was 1800 please tell me. 

[Crissy]

My refund was supposed to be according to turbo tax $1863 took so long almost two months and then got a notice it was only $430 and got a deposit of $201 I’m so confused. 

[Mafata08]

Because I suppose to get 10937.13 but  I received 9137.13 .  I don't know what's going on but what is the rest of the money. Can somebody please explain this to me.

[Wab53]

Why did I get a parcel payment on my income tax and through you instead of the irs

[DoninGA]

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@Wab53 wrote:

Why did I get a parcel payment on my income tax and through you instead of the irs

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Does the IRS website indicate that you were sent less than what was reported on your federal tax return Form 1040 Line 34? - https://www.irs.gov/refunds

TurboTax does not receive any kind of tax refund, federal or state.

If you requested to have the TurboTax account fees deducted from your federal tax refund, the IRS will send the refund to a third party processor to have the fees and the service charge deducted. The third party processor will deduct the TurboTax fees plus the service charge and then attempt to direct deposit the remaining refund balance into the account that you entered on your tax return.

For the status of your tax refund you will need to contact the third party processor, Santa Barbara Tax Product Group, using their website - https://www.sbtpg.com/

Tax Products Group Contact Information - https://help.sbtpg.com/hc/en-us/articles/230084587-Contact-Information

[Deniselopez1686]

Talked to irs weeks ago after I hadn’t received mine. They said it had to do with stimulus check. That we put the wrong amount. Thing was we went by TurboTax and irs letter. They then sent two out. Said we got double the amount we did. 2100 more. There response was to amend taxes but their records put correct 

[Deniselopez1686]

Good luck with IRS they told us their records are correct we got more then it showed at first for stimulus check. He said nope that’s just for one of you. Then sent us new letters each at the end of Feb. which we did our taxes beginning of  Feb.  they said we did it wrong so they fixed it. TurboTax told us wrong when I called TurboTax tax we were told something different. It’s been a long month.   

[skywalker284]

Mine was over $500 less than what turbo tax said it was supposed to be even subtracting the filing fee… this is bogus