How did this happen? I end up owing more than Turbo Tax calculated? I received a form CP23 today from IRS and I was $1600 short?

[Lisa995]

You'll want to compare the payments/credits IRS shows on the notice against the payments/credits shown on the printed copy of the return....where is the discrepancy?

[VolvoGirl]

I would check over your return and see if you can see anything wrong especially in the payments section 1040 Schedule 5.  Make sure you agree with all the amounts listed.   Like is the difference the same or close to the refund you got last year?  Maybe you put down that you applied last year's refund to this year?  Or you put down you made a payment with an extension or paid an estimated payment that you didn't make?

A common error is showing an estimated payment 1040 schedule 5 line 66 you didn't make or payment with an extension (line 71) you didn't send in.  Sometimes people start an extension form on purpose or accidentally and an amount gets entered for a tax due to send in with the extension.

Or you claimed Excess Social Security paid on line 72.  That happens when you are married and enter both spouse's W2s under the same name.

Or if you got any 1099Misc forms you didn't report it as self employment income on Schedule Cand pay the SE tax on it.  It  might have showed up on 1040 Schedule 1 line 21 for Other Income instead of line 12 business income.

[Anonymous]

https://www.hrblock.com/tax-center/irs/audits-and-tax-notices/irs-notice-cp23-estimated-tax-discrepa...

[Critter]

<a rel="nofollow" target="_blank" href="https://www.irs.gov/individuals/understanding-your-cp23-notice">https://www.irs.gov/individuals/unde...>

[SweetieJean]

@TaxPro+40  Please do not cite to a competitor.