@ stevensk32 wrote:
I got a deposit of $1,088 from PE2 as well, and my fed return was supposed to be $1,866. I remember seeing the tax product thing towards the end of me filing. But I'm almost positive it wasn't that much of a shortage.
If you chose to pay your TurboTax fees out of your Federal refund, then your product fees plus a $40 service fee ($45 for California filers) would be taken out of your Federal refund. The funds go first from the IRS to an intermediary bank where the fees are subtracted. Then that bank sends it on to your bank/card with a description similar to "Tax Products PE3 SBTPG" (or similar).
Go by the refund amount showing on your Form 1040, Line 35a, then subtract the TurboTax fees and service charge (and possible sales tax.) A state refund comes separately. Do not go by a total refund amount that TurboTax may have provided on a summary screen; that total refund figure adds the Federal and state refunds.
The fees and service charge would not be enough to explain your shortage, however. Again, if you're expecting a state refund, it comes separately. The IRS may have adjusted something on your return, and if so, they'll send you a letter in about 3 weeks or so, telling you why and what options you have if you disagree.
For instance, you could have had an offset.
Or did you claim the Recovery Rebate Credit? That's a common source of IRS adjustments. I'm wondering if they might have adjusted a stimulus credit you had on the return.
Check the IRS "Where's My Refund" tool to see if there is any message there about any adjustment.
https://www.irs.gov/refunds
