Will my tax return come in pieces or will it be a lump sum?
I am receiving a deposit in my bank account of $480 in a couple days. The sum is not from my workplace, and it would only be quarter on my tax return total.
Will my tax return come in pieces or will it be a lump sum?
Generally, your refund will be a lump sum.
Since TurboTax has no way of knowing why the IRS reduced your refund (if your $480 is your refund), you will receive a letter of explanation from the IRS within 30 days or so.
It is possible that the reduction could have been due to a refund offset to pay a debt such as an outstanding student loan, past due state taxes, or past due child support-or perhaps a simple calculation error.
Will my tax return come in pieces or will it be a lump sum?
Generally, your refund will be a lump sum.
Since TurboTax has no way of knowing why the IRS reduced your refund (if your $480 is your refund), you will receive a letter of explanation from the IRS within 30 days or so.
It is possible that the reduction could have been due to a refund offset to pay a debt such as an outstanding student loan, past due state taxes, or past due child support-or perhaps a simple calculation error.
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