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Lots of taxpayers (not just TT customers) made errors on the stimulus (Recovery Rebate) and Child Tax Credits. The IRS is adjusting for those, and will be mailing you a letter in 2-4 weeks. They do not notify TT or TPG. See:
2021 Recovery Rebate Credit Questions and Answers | Internal Revenue Service (irs.gov)
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.
Taxpayers waiting for refunds find little help from IRS's 'Where's My Refund' tool (msn.com)
Sometimes we can make an educated guess as to the reason for your reduced refund if you mention specific amounts--for example if your refund was short by $1400---it is likely to be a mix up regarding the 3rd EIP payment. If it is short by $1800 or $1500 or a multiple of that amount --- maybe a mixup regarding the advance child tax credit payments. Or---the fees you were supposed to pay for using TurboTax + the "refund processing fee" charged by the third party bank….
Did you choose to have TT fees deducted from your Federal refund? (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99 or $44.99 in CA)
How can I see my TurboTax fees?
https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online
What is Refund Processing Service?
The IRS will send you a letter that explains why your refund was reduced. Meanwhile it might help you to check your online IRS account.
https://www.irs.gov/payments/your-online-account
https://blog.turbotax.intuit.com/tax-refunds/why-is-my-tax-refund-not-what-i-expected-49240/
If you need to trace a payment that the IRS says has been issued to you, mail or fax a completed IRS Form 3911, Taxpayer Statement Regarding Refund.
Based on my letters from IRS my stimulus was calculated less than what I should have received as my income for 2020 was higher than 2021. Regardless of stimulus my tax return has been around the same amount. Just about her excuse from TT and TPG to take our money.
@xmasbaby0 39$ to 49$ of fees does not equal 4K of my return. It’s not right.
@maddycur Not sure why you are mentioning the difference between your 2020 and your 2021 income. The 3rd EIP is based ONLY on your 2021 income---not on 2020. They sent out the payments in a hurry to get them to people, but if you are getting it as a recovery rebate credit it is ONLY based on your 2021 income and circumstances. TurboTax did not "take" your money. Either you entered something incorrectly or the IRS reduced your refund for some other reason. You will get a letter from the IRS explaining your refund reduction.
As for SBTPG:
Your tax refund was not sent to TurboTax. TurboTax does not handle your refund at all.
Santa Barbara Tax Products Group, LLC (SBTPG) is the bank that handles the Refund Processing Service when you choose to have your TurboTax fees deducted from your refund. This option also has an additional charge from the bank that processes the transaction.
You can contact them SBTPG, toll-free, at 1-877-908-7228 or go to their secure website www.sbtpg.com
https://ttlc.intuit.com/questions/2580357-who-provides-the-refund-processing-service
https://ttlc.intuit.com/community/refunds/help/who-provides-pay-with-my-refund/00/26410
@maddycur = let's try and figure this out and leave the emotion to the side
1) what is on Line 30 of your Form 1040?
2) how much did you receive for the THIRD stimulus payment - it is what was received in March - May, 2021 time frame.
3) I will assume you are filing joint (correct me if that is not correct). Also, how many dependents did you list on your tax return?
4) TT asked you to enter the stimulus received; they referenced IRS Letter 4375 as the documentation of what you received. If you filed joint there were TWO letters; half they money would have been on each letter - one letter to you and one to your spouse. If you didn't add the two letters together, then Line 30 was over stated, and the IRS has caught the error.
please respond to my questions and we can figure out the root of the problem,
@NCperson Just a minor correction here----the IRS sent letter 6475 for the 3rd EIP payment.
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