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Recovery Rebate Credit error 2021?
Both myself and a friend who used TT Deluxe for preparing our 2021 taxes got nasty letters from the IRS stating there was NO allowable Recovery Rebate Credit along with penalties and daily interest rate assessments!
When I went back and looked, line 30 on 1040-RS had been populated with an $84, of which I don't recall ever entering. So I paid the $84 and fine(s). This is the first time TT has made a mistake on one of my forms. My friend's error was several hundred dollars!
May 10, 2022
11:44 AM