My 2021 federal tax return was rejected and changed by the IRS. Instead of a $4,199 refund I now owe $101.42? What's Tubo Tax's liability when I'm told it's accurate?

[NCperson]

TT guarentees accuracy as long as you enter the information correctly..... in other words, they are guarnteeing their software is correct, but they are not guarenteeing you enter everything correctly. 

Most of these changes relate to either the Recovery Rebate or the Advance Child Tax Credit.  In both cases, you were required to enter the amounts already received. 

Please look at Line 30 of Form 1040.... did you receive the 3rd Stimulus back in March - May, 2021 timeframe. If yes, then this amount should really be zero (in most cases).  

Please look at Line 28 of Form 1040....did you receive advances for your children back in July - Dec, 2021? THen this line should be $3600 for each child under the age of 6 plus $3000 for each child ages 6-17 LESS what you received in July-  Dec. 2021

do either of these situation above fit you?

The IRS sends the letter of explanation 2-4 weeks after the refund / payment requires occurs.  

[Anonymous_]

@NCperson is correct with respect to the TurboTax Accuracy Guarantee; it only covers program calculation errors.

Further, the guarantee is limited to any penalties and interest assessed if there is a program calculation error. The guarantee does not extend to an increase in income tax liability.

[SweetieJean]

Many taxpayers (not just TT customers) made errors of this type.  As of April 7, the IRS had issued 9.4 million math error notices – and 8.3 million of these notices were related to the recovery rebate and the child tax credit.

IRS 'Where's My Refund?' tool offers little help for some taxpayers (usatoday.com)