Why did I only receive half of my federal tax return

jparton1 — Fri, 19 Mar 2021 11:46:32 GMT

Turbo tax federal refund and what was deposited in my account are two very different amounts.

Re: Why did I only receive half of my federal tax return

xmasbaby0 — Fri, 19 Mar 2021 11:55:32 GMT

Did you enter ALL of the stimulus money that you had already received correctly in the recovery rebate credit section when you prepared your 2020 return? The IRS cross checks and if you did not enter all of the money you received, they recalculate your refund.

MY REFUND WAS LESS THAN I EXPECTED

There can be a number of reasons why your refund was less than the amount you expected. First of all, look carefully at your actual tax returns. There is sometimes confusion about the amount of refund to expect when users misinterpret the “summary” they saw in TurboTax. The amount of your refund is on your tax return. Federal refund is on line 34 on Form 1040 State tax forms are all different so we cannot tell you what line to look at on your state form. BUT it is important to actually LOOK at your tax return forms yourself and see the amounts of your tax refunds and/or tax due. A lot of confusion would be avoided by doing that.

TurboTax does not receive feedback from the IRS regarding money that was offset from your refund. If you owed back taxes, child support, student loan debt, etc. you will receive a letter of explanation from the IRS in several weeks. The WMR site will contain a message regarding your offset. It is also possible that the IRS caught a mistake you made and reduced your refund.

A possible reason for the reduction could be that the recovery rebate credit was completed incorrectly and you may have entered the amount of stimulus already received wrong, which could have reduced the refund you thought you were seeing.

It is also possible that your state reduced your refund for debts owed in your state—if the state reduced your state refund you will receive a letter from the state.

https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts

IRS Treasury Offset Program Call Center at 1-800-304-3107

Be aware also that your Federal refund and state refund do NOT come together. Federal and state tax returns are processed by two completely separate entities. There is no rule as to which one will come first,

Did you choose to have TT fees deducted from your Federal refund? (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99)

How can I see my TurboTax fees?

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts

Re: Why did I only receive half of my federal tax return

jparton1 — Fri, 19 Mar 2021 12:16:35 GMT

I double checked all of my tax information this morning. The stimulus amount was correct, return on my tax return documents shows the same refund as turbo tax shows. I guess I'm just a lucky one who was charged $700 for using turbo tax this year.

Re: Why did I only receive half of my federal tax return

xmasbaby0 — Fri, 19 Mar 2021 12:31:48 GMT

No. TurboTax did not charge you $700. If the IRS reduced your refund you will receive a letter from the IRS explaining what they changed and why.

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Why did I only receive half of my federal tax return

Re: Why did I only receive half of my federal tax return

Re: Why did I only receive half of my federal tax return

Re: Why did I only receive half of my federal tax return