Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 8, 2021 7:36:21 AM

Do we have to pay back s1st and second round stimulus?

Stimulus deducted from refund

0 5 302
5 Replies
Expert Alumni
Apr 8, 2021 8:02:17 AM

No, you don't have to pay the stimulus payments back.

When you prepare your tax return using TurboTax, the stimulus payments that you may be entitled to are already included in your refund. Once you enter in TurboTax the amount that you already received, your refund will then be reduced by that amount.

New Member
Apr 8, 2021 8:04:21 AM

Thank you for confirming that information unfortunately it does turn out that they took the $5100 back. And today they went through the process and they also deducted an additional $5100 out of my bank account. I am mended itBut I believe where I see where I made a mistake and I wanted to see if there was a way someone can assist me by correcting it. So that I can receive that missing them out for my taxes.

Expert Alumni
Apr 8, 2021 12:30:58 PM

If the IRS deducted money from your bank account, you must have had a tax due on your tax return when you filed it and gave them a bank account number and date when they could withdraw the money.

 

If your tax return was not completed properly, you will need to amend it to receive the money they took back. There is an option on your home page when you log into TurboTax to amend your tax return.

New Member
Apr 8, 2021 12:42:48 PM

No my taxes were done correctly I also went over the information with TurboTax worker as well. And they confirmed that it was done properly it was something that was supposed to be deposited not taken out.

Expert Alumni
Apr 8, 2021 1:40:34 PM

You can call the IRS about the payment taken to determine what triggered it. Start with the payments office, 800-316-6541.