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Can someone please explain to me why i was charged over 700.00 out of my refund check?

 
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5 Replies

Can someone please explain to me why i was charged over 700.00 out of my refund check?

@Phillyboricua40 - what is on line 30 of Form 1040.   How many people (including dependents) were listed on your tax return.  Did you file Marrieid-Joint? Let's start there; I have a hunch on what happened. 

Can someone please explain to me why i was charged over 700.00 out of my refund check?

I claimed head of household and i had myself and 1 dependent. But for the past 2 years i had the same dependent and head of household and turbo tax never charged me over seven hundred and i been using turbo tax for 7 years this coming tax season will be 8 if i stay with them. 

Can someone please explain to me why i was charged over 700.00 out of my refund check?

And...are you really sure it was actually TTx that charged you $700?

 

If your refund was just short $700, it's possible that the IRS reduced what they sent out for some reason not yet evident.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Can someone please explain to me why i was charged over 700.00 out of my refund check?

@Phillyboricua40 TurboTax gets no information from the IRS after you file your tax return, so no one in the user forum can tell you for sure what happened to the refund you expected.  However, LOTS of people made mistakes on their 2021 tax returns that resulted in reduced refunds.

 

LOTS of people have made mistakes this year with the recovery rebate credit by "forgetting" that they received the $1400 per person stimulus checks last year.  They answered no to the questions for the  recovery recovery rebate credit and put the $1400 per person on line 30 of their returns.  But you cannot get it twice, so the IRS removes it when it is there by mistake.  The IRS sent letter 6475 showing that you received the 3rd stimulus check. 

 

 

It is very important that if you filed a joint return—-the IRS sent letter 6475 to EACH spouse.  You had to enter the total amount received.   Many people misunderstood and entered only the amount from one of the letters.

 

 

Try checking your online account with the IRS (and if you filed a joint return—check for BOTH of you)

 

https://www.irs.gov/payments/your-online-account

 

Does the IRS show that you received a $1400 per person stimulus or EIP check in 2021?   Did you receive it?   When you were asked on your tax return did you say no?   Was there $1400 per person on line 30 of your tax return?

 

If the IRS says you got $1400  per person last year but you did not receive it you can have it traced.

 

LOST THIRD STIMULUS CHECK

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-round-economic-impact-payment-top...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Can someone please explain to me why i was charged over 700.00 out of my refund check?

@Phillyboricua40 - the problem probably relates to Line 28 and Line 30 of Form 1040 .....what do you have on those two lines.  .PLEASE POST THAT.    Literally millions of taxpayers made mistakes on these lines. 

 

if you received your 3rd Stimulus payment of $2800 for the two of you, there should be ZERO on LIne 30. (I'll bet there is $700 sitting here).  You should have received $2800 deposited into your checking account in March- May 2021. PLEASE CHECK YOU BANKING RECORDS

 

did you by chance file Married-Joint in 2020??????? that is a clue on where the $700 difference is sitting. 

 

Line 28 is the Child Tax Credit and if yuour child is between 6 and 17 years old, there should be $1500 on this line, but it is a little complicated to explain.  Best just to tell us what is actually listed on Line 28 and we can go from there. (I do think the problem is with Line 30 and not Line 28)

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