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Level 1
April 25, 2022
Question

Wrong returned amount from Turbo Tax

  • April 25, 2022
  • 6 replies
  • 16 views

I filed my 2020 tax return with Turbo Tax and made the required payment 1,289.00. Then I received a notification from IRS that I owed additional $1,211.59. This issue occurred last year. How can there be such a big discrepancy with the Turbo Tax product?

6 replies

Alumni - Champ
April 25, 2022

What did the demand letter from the IRS say?

Alumni - Champ
April 25, 2022

Could you have made a data entry error, or forgotten to claim some income?  Since the difference is exactly $2500, the IRS might have disallowed some credit, such as the American Opportunity Tax Credit. 

fanfare
Level 15
April 25, 2022

Sorry  @SweetieJean  the difference is not 2,500 it is $1,211.59