Hi I finally got my 2021 tax refund back, but about a week or two before this happened I received a letter from the IRS saying that they found an error on my form in the following area: "Recovery Rebate Credit". From here the return was corrected and this amount was changed by $1400. TurboTax said that this is what I should put in this area so I am confused what went wrong and why this error occured.
You'll need to sign in or create an account to connect with an expert.
The Recovery Rebate credit in the amount of $1400 was an amount that was included on line 30 of your 1040 tax return. This effectively increased the amount of your refund when you filed the return by $1400. You should only have received this recovery rebate credit if you had not already received the third stimulus check.
There were questions in the federal review area of the interview on Turbo Tax that asked if you had already received the third stimulus payment of $1400. This third stimulus was sent out to you between March and May 2021 and you should have received letter 6475 from the IRS informing you of this. In this area of the interview on Turbo tax, you were asked if you already received the $1400 and were to indicate yes or no.
If you received a letter from the IRS adjusting the amount of your refund by $1400 , it is because their records indicate that you already received this third stimulus.
I suggest looking back through your bank records for deposits from the IRS for $1400 between March and May 2021 and also creating an account on IRS.gov where you can see what they have in their records for what was sent and when.
I have included a link with more information on this:
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
gulukaram
New Member
uniryder22
New Member
monysto1
Level 2
trinity.roll
Level 1
Kidatheart
Level 1