topic TurboTax update changed my refund, should I refile? in Get your taxes done using TurboTax

TurboTax update changed my refund, should I refile?

talents7 — Wed, 31 Mar 2021 21:26:33 GMT

Ok, so I was advised a week ago to just go ahead and file my taxes despite knowing an update was coming. So I did.

Now, I find my refund increased but I already filed. So, what do I do now? Refile?

Re: TurboTax update changed my refund, should I refile?

RayW7 — Wed, 31 Mar 2021 21:35:37 GMT

No, if you have already filed wait until your return is accepted.

The IRS may adjust your return and then notify you of any change. After the return is processed you may want to file an amended return.

If the change is related to the Unemployment Exclusion do not file an amended return..

The IRS has just released a statement saying that they will begin re-calculating tax returns with unemployment compensation in May and paying adjusted refunds or applying the adjusted amount to previous tax debts. The IRS will process taxpayers claiming the $10,200 exclusion first, and later they will process married filing joint returns that are claiming the $20,400 exclusion and other more complicated situations.

Re: TurboTax update changed my refund, should I refile?

talents7 — Wed, 31 Mar 2021 21:50:42 GMT

They were accepted within hours of submission. But I don't think they have been approved.

I wish I had saved a copy of the return that I filed cause the update won't let me see that.

The IRS likes to change my return on a regular basis and I have to stand up for my rights and say "Hey, I did it right, leave it alone."

We shall see what happens I suppose.

Thanks