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Keep in mind that the refund meter is dynamic and may recalculate with every click and change on your return. Your refund will not be finalized until completion and ready to file.
One way to feel confident in the preparation of your tax return and your refund amount is to compare your prior year's return with the current year. The format of the 1040 has changed from 2018 to 2019, so you cannot compare line numbers. Be sure to review by the line description. Some important lines to consider are total income, taxable income, tax due, total payments, and refund or balance due. This will give you an idea of whether or not you left anything out before you file.
Also, take into consideration any job changes, life changes (marriage, new home, dependents, etc.) that may affect your return. Consider whether or not you have included all sources of income on your return such as W2's, interest, dividends, or self-employment income. Review the Deductions & Credits section of TurboTax to make sure you have taken advantage of all the potential tax breaks. Finally, be sure to run the review to look for any potential errors.
FROM: $1737 FILED AMOUNT
TO: $1137 RETURN NOTICE
WHY THE DIFFERENCE AND THE CHANGE?
WHEN WILL THE RETURN BE DEPOSITED IN MY ACCOUNT?
Generally, the IRS and state taxing agencies will send you a notice to explain the difference in your tax forms and the refund they have sent you. They may have adjusted your account, or they may have offset your refund for past due taxes, child support, unpaid student loan debt, or a number of other reasons.
I would wait a reasonable amount of time for the letter to arrive. When you call the IRS or state taxing authority you should have a copy of your return handy.
You can see the Treasury Offset program here and IRS information about reduced refunds here. You might also get more information by using the IRS's Where Is My Refund.
we have filed our tax before April 2021, but we summited it using my husband's Turbo Tax account and I have already did ours before he told me that he also did it too, so we just go with my husband's account . Today, I checked my turbo tax, and just realized that the refund amount is changing.
we have already got the refund from IRS around $4300 and then now, it said we could get $6000. How do I change this and get the remaining balance?
When I saw the details, they added the Earn Income Credit (EIC) and Sales Taxes too.
Thank you
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