You should receive a letter from the IRS telling you why your refund amount was changed. The most common reasons so far this season for someone that is single is:
- You did not enter that you received the stimulus payment in TurboTax, so your return said you were getting the money back, but the IRS caught it and said, no, you already received it. This is a payment you can only receive one time. So if you got it before, they will reduce your refund by that amount.
- If you look at line 30 of your 1040 and it shows an amount there, and you already received the $1,400 per person last year when they sent out the stimulus payments, this is likely the reason.
- If you do not remember getting the stimulus payments you can go back through your back records to double check. Many people either didn't realize they did receive it or they forgot, but end up seeing it when they go back through their records.
A couple other reasons include
- You owed back taxes, child support, student loans or something else that caused your refund to be Offset to pay some of the past due debt. You should have received a letter if this was the case.
- Something was not reported correctly on your return and the IRS recalculated your return causing you not to have a refund. This could include things such as missing income or inaccurately reported income (ex. you entered $5,500 for your W2 box 1 instead of $15,500)
You should look for a letter from the IRS and if you do not have one or do not receive one, you would need to call the IRS at 800-829-1040 as no one else would have the answer as to why your refund was reduced.
@williamjw62
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