Why would I receive a significant additional tax due two months after I successfully completed TurboTax and paid my taxes?

[user5346]

What is this additional tax? Turbo tax verified my work. What did I miss?

[NCperson]

what is on Lines 28 and 30 of Form 1040?  this is where most ALL are seeing the adjustments.....

how much was the adjustment (please be exact)

if you post those responses, I can probably explained what happened.

when you complete your taxes, the IRS 'accepts' the return - that just means they have received it, it doesn't mean they have reviewed it.  

[xmasbaby0]

TurboTax cannot verify that everything you entered was accurate or complete.   TurboTax's calculations are accurate based on the data you enter.  TT does not verify the accuracy of the income or information you put in.   LOTS of people have been making mistakes with the advance child tax credit payments and the recovery rebate credit this year, so that is a starting point for you to look for what went wrong.

    If you received the 3rd stimulus check of $1400 per person in 2021 then you got letter 6475 from the IRS about it.   You needed to enter the amount you received. If you filed a joint return then that letter was sent to both spouses and you had to enter the TOTAL from both letters.   If you already received that money then line 30 on your Form 1040 should have been blank.

 If you received monthly child tax credit payments of $250 or $300 per month between July and December of 2021, then you got letter 6419 from the IRS, and you were required to enter the amount of the advance payments.   Again...if you filed a joint return, the IRS sent a letter to each of you and you had to enter the TOTAL amount received, not just the amount from one letter.   Only the remaining amount of the CTC should have been on line 28 of your Form 1040.

The IRS knows how much they sent to you for the 3rd stimulus check and they know how much they sent for advance child tax credit payments.   If you answered something incorrectly on your tax return then the IRS made a correction that resulted in a reduced refund for you or an increased amount of tax due.

https://www.irs.gov/payments/your-online-account

https://blog.turbotax.intuit.com/tax-refunds/why-is-my-tax-refund-not-what-i-expected-49240/

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-round-economic-impact-payment-top...

If you need to trace a payment that the IRS says has been issued to you, mail or fax a completed IRS Form 3911, Taxpayer Statement Regarding Refund.

Updated IRS FAQ about recovery rebate credit

https://www.irs.gov/pub/taxpros/fs-2022-27.pdf

[Irene211]

If you didn't receive the 2021 stimulus money and you said that you didn't on TurboTax, why would that result in a bill from the IRS instead of the refund?

[NCperson]

@Irene211 - here is why: because the IRS shows that their records say that they did sent the stimulus to do.  

suggestions

1) go to your transcript on IRS.GOV and look for the date they sent the stimulus to you.

2) check a few days / weeks after that in your checking account statement to confirm absolutely you didn't receive the stimulus

3) since you are then at a stalemant (you insist you didn't receive the money and the IRS insists you did), fill out and mail in the trace form:

https://www.irs.gov/pub/irs-pdf/f3911.pdf