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TurboTax filings for two years each indicated a refund but IRS billing approximately $4500+?
2021 return indicated a $1056 refund but got a bill for $2,458
2020 return indicated a $2154 refund but got a bill for $2,149
What can I do?
IRS Changes related to "Recovery Rebate Credit" for both years:
We changed the amount claimed as >Recovery Rebate Credit< on your tax return.
The error was in one or more of the following:
1.The Social Security number of one or more individuals claimed as a qualifying dependent was missing or incomplete.
2.The last name of one or more individuals claimed as a qualifying dependent does not match our records.
3.One or more individuals claimed as a qualifying dependent exceeds the age limit.
4.Your adjusted gross income exceeds $150,000 if married filing jointly.
5.The amount was computed incorrectly.
‎December 20, 2023
11:28 AM