Why do I have pay back $70

bango63 — Thu, 23 Apr 2020 16:45:29 GMT

Re: Why do I have pay back $70

GiseleD — Thu, 23 Apr 2020 17:29:44 GMT

Are you referring to a tax liability? Many factors could cause an unexpected tax owed. Below are some common culprits:

Although tax law changes lowered the rates for multiple tax brackets, your refund may not be as big as you expected because less income tax was taken out of your paychecks throughout the year. If you didn't update your W-4 for 2019 for any life and/or income changes (many people didn't), it’s highly possible that this is why your refund isn’t as large as you expected.
Your income may have increased to where you were in a higher tax bracket in your state. Even if you had more state tax withheld, it may not have been enough to account for the extra income.
Another change may be due to ineligibility for certain credits in 2019. You may have been eligible for certain credits in prior years, but life changes in 2019 made you ineligible for these same credits.
Additionally, you may have mistyped a dollar amount somewhere or accidentally missed an important question during the interview process. A typo or an incorrectly answered question can have an obvious effect on your bottom line. You may want to review all of your entries.

To check for all of these potential factors and more, may I recommend reviewing your prior year return, line-by-line, and comparing it to this year's forms? This will help you determine the changes between 2018 and 2019.

Here's how to look at your current-year return forms:

In the left-hand menu bar, click on Tax Tools, then click Tools.
Under Other helpful links, click View Tax Summary.
Your Tax Summary will be displayed. In the left-hand menu bar, you will see a new option: Preview My 1040. Click it, and this will allow you to see the forms. It is important to check your 1040 before you check your state return, as much of your entries on the 1040 will impact the state return.
If you want to view your state entries, Click on Tax Home in the left-hand menu bar. In the center of your screen, scroll down until you see State Taxes. Click on it to review your state entries.

Re: Why do I have pay back $70

VolvoGirl — Thu, 23 Apr 2020 17:34:54 GMT

Or is Turbo Tax asking for some fees? Did you add Plus for $30 and it is suppose to come out of your refund? There is an extra $40 Pay with Refund charge. 30+40=70

Then If the IRS doesn't send your refund in a certain amount of time or reduces your refund, Turbo Tax still needs to get paid.

Sounds like the IRS is taking too long to send your refund or reduced it. See What if the IRS reduces your refund or delays it.

https://ttlc.intuit.com/community/payments/help/what-if-my-federal-refund-isn-t-enough-to-cover-my-turbotax-fees/00/26313

Then when the IRS does send your refund they won't take the fees out again.

And, Why you got charged,

https://ttlc.intuit.com/community/charges-and-fees/help/why-was-my-bank-account-auto-debited-for-turbotax-fees/00/26102

You should have received about 4 emails asking for the fees. If you don't pay they will debit your account. You had to agree to it.

topic Why do I have pay back $70 in Get your taxes done using TurboTax

Why do I have pay back $70

Re: Why do I have pay back $70

Re: Why do I have pay back $70