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Mr Dibble
New Member

Is there an error in the "Recovery rebate credit worksheet"?

I, too, just received a letter from the IRS and a request for money. I logged in to Turbo Tax to verify that I entered the correct amounts of stimulus, and I did. I confirmed these amounts on the IRS website. So I went from an expected refund of $501 to a bill for an amount due $1239.40. Our AGI on line 11 is a little over $156k. This number was, of course, computed by Turbo Tax. I'm a little upset about this.

Is there an error in the "Recovery rebate credit worksheet"?

@Mr Dibble  How much is on your 1040 line 30?   

Did you not get one of the first 2 Stimulus payments?   Or qualify for more?

 

If you claimed a missing stimulus payment on your return but the IRS took it off you have to ask the IRS. They think they already sent it to you. Did you get the 2nd round after you filed your return?   Maybe it went to an account you don't remember. Or you got a check or a card. It was probably easy to miss the debit card in the mail and think it was junk mail. They have to put a trace on it.

 

How to put a trace on a missing 1st or 2nd Stimulus payment.  IRS for Payment Issued but Lost, Stolen, Destroyed or Not Received

See question F3 here, you can expand it to see how to put a trace on it.

https://www.irs.gov/newsroom/2020-recovery-rebate-credit-topic-f-finding-the-first-and-second-econom...

Is there an error in the "Recovery rebate credit worksheet"?

the worksheet is correct according to the tax laws.  otherwise, every return reporting an additional recovery rebate - line 21 - would be wrong

there are several possibilities.

The IRS is making an error. 

the IRS paid you more but you didn't get all so you entered what you actually got or you entered the wrong amount.

the IRS increased your AGI which lowers line 21. 

there is also the issue of taxpayers not qualifying for the credit but claiming it - such as saying they're not a dependent when they are.

 

Is there an error in the "Recovery rebate credit worksheet"?

How did you get anyone on the phone I have tried all the menus to no avail. I cant get anyone on the phone. Any tricks or what buttons do you push to get a person?

Is there an error in the "Recovery rebate credit worksheet"?

We didn't get stimulus checks we answered no and system calculated that we were entitled to get money back. I received IRS letter stating they took the money away. I'm curious if turbo tax will now carry over the incorrect figures and ill have problems next year. 

Is there an error in the "Recovery rebate credit worksheet"?

@Licamper2021   

If you claimed a missing stimulus payment on your return but the IRS took it off you have to ask the IRS. They think they already sent it to you. Did you get the 2nd round after you filed your return?   Maybe it went to an account you don't remember. Or you got a check or a card. It was probably easy to miss the debit card in the mail and think it was junk mail. They have to put a trace on it.

 

How to put a trace on a missing 1st or 2nd Stimulus payment.  IRS for Payment Issued but Lost, Stolen, Destroyed or Not Received

See question F3 here, you can expand it to see how to put a trace on it.

https://www.irs.gov/newsroom/2020-recovery-rebate-credit-topic-f-finding-the-first-and-second-econom...

Is there an error in the "Recovery rebate credit worksheet"?

Our income is over the $150,000 limit we are not entitled to the credit but turbo tax calculated $220 credit. I dont see a way to fix the error made by turbo tax. I am hoping it doesn't screw up next years taxes

Is there an error in the "Recovery rebate credit worksheet"?

I too am concerned about next year's taxes  using TurboTax as I had to pay back 1200 plus dollars back. And in answer to the question whether  I applied or took a COVID rebate - the answer is no. I was slightly above the income threshold. 

shoner
New Member

Is there an error in the "Recovery rebate credit worksheet"?

This happened to us as well too.  When filling in TurboTax for 2020 taxes, I logged into the IRS website to get the EIP 1 and EIP 2 payments for the recovery rebate credit worksheet and entered them into TurboTax.  What I didn't catch is to take each EIP payment x 2 as the IRS website only shows it for one person and not for both me and my spouse together.  Once I made the adjustment, I derived at the same numbers as the IRS calculated and received a letter from them as well with an explanation.  Made the changes in Turbotax and saved the file so won't impact future returns.

 

Is there an error in the "Recovery rebate credit worksheet"?

That is exactly the mistake I made and process I followed. Frustrating part was the inability to get through to the IRS for any assistance to understand what happened when my refund was originally delayed. My guess is that a lot of us made the same mistake of using the IRS site for info, and it not saying that they divided the payment for couples in half.

Is there an error in the "Recovery rebate credit worksheet"?

Same issue here.  Turbo tax may have a bug or the IRS is mistaken.   Since this old thread was solved I would post a new thread and/or comment on this newly posted thread that turbotax hasn't replied to yet.

 

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/recovery-rebate-credit-irs-says-...

 

 

Is there an error in the "Recovery rebate credit worksheet"?

The worksheet is wrong.  It gave me a credit that the IRS took away.  I received the same letter.  I checked my hardcopy backup.  It looks to me the worksheet added $1200 on line 8 that Turbotax should not have done.  I had no answers on line 3 and it would seem Turbotax assumed the answer was yes.

Is there an error in the "Recovery rebate credit worksheet"?

@Licamper2021 

 

The fact that IRS adjusted your 1040 line 30 is not going to impact your 2021 tax return.

Is there an error in the "Recovery rebate credit worksheet"?

2020 was not a good year for TurboTax - Recovery Rebate Credit worksheet program errors is but one example

another dealt with Estimated Quarterly Tax worksheet payments.  TT warranty falls far compensation short of dealing with the headaches.

 

Is there an error in the "Recovery rebate credit worksheet"?

I received an IRS letter changing my 2020 return; specifically for the Recovery Rebate Credit. I used the TurboTax form for computation and it appeared correct. We were over the $150k income, but the computation showed a calculation based on 5% of the overage.  The IRS letter shows 0.00 for other credits from 1040SR. But, the TT form shows a credit. To make matters worse, the letter gives us to 9/27 to make payment, but we only received the letter on 9/20. I've called the IRS number several times and get the same response - "given our high call volume we can't address your issue; call back on the next business day". I'm running out of days. I would appreciate any assistance. 

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