Wait for the notice to come in the mail then make the payment asap.
Most of the changes the IRS is making this year has to do with either the third stimulus payment advance and/or the CTC advance so if you entered the incorrect amount the IRS will catch the error based on their records of what was sent.
If so in the program ... Answering No on the question asking if you received a 3rd stimulus payment means you told TurboTax that you did not receive any payments.
In that case, TurboTax would add an amount on line 30 Form 1040 because you said you never received any stimulus money but if the IRS disagrees they would remove the credit amount.
So... if you never received a stimulus deposit or check—and the IRS records show they paid you—then you should ask the IRS to trace your payment. Many payments were sent and not cashed so a trace is the only option available to you. Some were sent on debit cards that looked like junk mail and many folks thru them in the trash. If the payment was never cashed ONLY THEN can you send in an amended return to claim the credit and attach the findings letter with the 1040X form.
The fastest way to initiate a trace is to contact the IRS by calling us at 800-919-9835.
You can also complete Form 3911:
- Write "EIP3" on the top of the form to identify the payment you want to trace.
- Complete the form answering all refund questions as they relate to your Economic Impact Payment.
- When completing item 7 under Section 1:
- Check the box for "Individual" as the Type of return
- Enter "2021" as the Tax Period
- Do not write anything for the Date Filed
- Sign the form. If you file married filing jointly, both spouses must sign the form.
You will generally receive a response 6 weeks after we receive your request for a payment trace, but there may be delays due to limited staffing.
