Refund is less and comes from "TPG PRODUCTS SBTPG LLC"

[skin287]

My Fed. Refund  is over $2,500 short. TurboTax CRS doesn't what's going on and you can get SBTPG LLC on the phone. I don't have a mix up between State and federal tax refund.  TurboTax need to need to fix the situation ASAP. These corporation are quick to take your money than provide **bleep**ty service and don't  even set a way for you to talk to a live person. TurboTax & SBTPG LLC you all have a lawsuit coming.  

[Vanessa A]

You should have received a letter from the IRS telling you why your refund amount was changed.  The two most common reasons so far this season are:

1. You did not enter that you received the stimulus payment in TurboTax, so your return said you were getting the money back, but the IRS caught it and said, no, you already received it.
   • If you look at line 30 of your 1040 and it shows an amount there, and you already received the $1,400 per person last year when they sent out the stimulus payments, this is likely the reason.
2. You did not report the full amount of your Advanced Payments for the Child Tax Credit that you already received.  Again, the IRS will catch this and make the changes to your return. 
   • This you can see on line 28.  The amount on that line if you receive the Advance Payments should be one half of what you were eligible for.  If you had 2 kids under 6, you would have been eligible for $7,200 so the correct number would be $3,600 on line 28 if you received Advance Payments.  If it shows $7,200, then you did not enter your advance payments which is why the IRS changed your return. 

You should look for a letter from the IRS and if you do not have one or do not receive one, you would need to call the IRS at 800-829-1040 as no one else would have the answer as to why your refund was reduced. 

[SweetieJean]

It can take 2-3 weeks for the letter to arrive from the IRS.

[skin287]

Thanks for the info but these two situation don't apply to me.  I have no kids so I didn't receive any child tax credit and reviewing my tax transcript I enter I received my stimulus payment. Its either a mistake or some shady stuff going on. I won't be using turbo tax anymore. 

[Lzbth55]

I did receive 1400 recovery money and the system did enter that amount on line 30.  Why is my refund reduced by TPG products?

[Lzbth55]

okay so un-informed citizen here. Didn't realize recovery money was actually an advance on your tax refund...so when I took that away from IRS refund plus filing fees the deposit must be correct...wish I could have denied that darn recovery money...

[reniberman]

Really?  Because we went from getting over $1600 to getting $130.  I have heard that this has something to do with the company you are using to distribute the funds.  We got no letter from the IRS regarding any changes nor did we hear from Turbotax about getting our funds back from a company that most Turbotax users, are not familiar with.  I had to look up TPG Products to see who the hell was putting money in my account.  I really hope to hear from either the IRS or Turbotax regarding why my entire tax return is null and void now.  

[Taxhater101]

Here is the thing. We also put in exactly the amounts we got on our stimulus and then my refund status went up to 3544. Then we get back 1,310.30 because they are like no you got your stimulus....Ok numnuts I put in exactly what turbotax asked me for why is turbotax lying?

[Lzbth55]

This was a painful lessen in political fork tongue. Why won't TURBO TAX come out on their own site and say "the government give and the government takeaway"  I can absolutely deal with it as long as I know this TPG isn't ripping everyone off.  

[Vanessa A]

When you entered the amount you received, if you received the full amount, your refund should not have gone up.  It actually should not have changed at all.  If it went up, it sounds like you entered less than you received.

You should be receiving a letter from the IRS explaining the changes. As I mentioned above, the two most common reasons are people not entering the correct amounts of the payments received for the recovery rebate or the Advance Child Tax Credits.

However, there are other reasons, such as typos when entering your information or forms not added to your return that the IRS received.  An example would be a W2 or 1099 the IRS has, that you omitted from your return.  Also, the Premium Tax Credit if you had insurance through the Marketplace. 

Once TurboTax transmits your return, we have no control over what happens and are not informed as to what happens with your refund.  The IRS is the only one with the actual answer as to why your refund is changed.  You will need to contact them at 800-829-1040 for an accurate answer.  

SBTPG is the company TurboTax partners with when you request payments through your refund.  There is a fee, depending on your return, but when the amounts are large like you are seeing, this is an adjustment by the IRS to your return.

@reniberman

 @Taxhater101

[smith_doug]

My return is over $2000 less than it should be. This is the first time I have a deposit from TPG.  I need someone to tell me what this is all about.  The funds came as a direct deposit.  I did not authorize my funds going through TPG.  

[Lzbth55]

"When you entered the amount you received, if you received the full amount, your refund should not have gone up.  It actually should not have changed at all.  If it went up, it sounds like you entered less than you received."

I really don't understand what you are saying here??  I received one check March of 21 which i noted on line 30.

all forms where summited W2 1099 etc.  

[Vanessa A]

If you chose to have your TurboTax fees paid out of your refund, TPG is the financial institution that TurboTax uses to process the payments and refund. Since the fee is obviously not $2,000, this means the IRS made changes to your refund. 

You should have received a letter from the IRS telling you why your refund amount was changed.  The two most common reasons so far this season are:

1. You did not enter that you received the stimulus payment in TurboTax, so your return said you were getting the money back, but the IRS caught it and said, no, you already received it.
   • If you look at line 30 of your 1040 and it shows an amount there, and you already received the $1,400 per person last year when they sent out the stimulus payments, this is likely the reason.
2. You did not report the full amount of your Advanced Payments for the Child Tax Credit that you already received.  Again, the IRS will catch this and make the changes to your return. 

You should look for a letter from the IRS and if you do not have one or do not receive one, you would need to call the IRS at 800-829-1040 as no one else would have the answer as to why your refund was reduced. 

@smith_doug 

[Lzbth55]

IRS FORM 14157 preparer complaint form for TURBO TAX

I have painfully logged onto the IRS site. Once in I can find no information or letter concerning my reduced return.  Why can't we get information from TPG so we can follow the paper trail? 

[Kosa]

I absolutely agree, this will likely become a class action lawsuit.