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For the tax year of 2020, the IRS's tells me that I underpaid by $484.00. Turbotax reports $0 owed. I have spent many hours reviewing and re-reviewing my paperwork and the TurboTax generated reports, and am completely baffled! Actually, I was ready to "give the money to the IRS" when I found this message site. I'm not certain as to what you require to lessen my frustration, but I'd appreciate any ideas you can give. Thank you from Richard
Does the IRS website indicate that you were sent less than what was reported on your federal tax return Form 1040 Line 34? - https://www.irs.gov/refunds
If less, how much is the difference?
if the IRS is less it's usually because the taxpayer left something off their return. you should receive an explanation in 2 to 3 weeks. Or you can go to the IRS website and review your tax return transcript after registering if you have not done so already
So,,,,, what is usually wrong when the IRS "claims" I underpaid. My problem is that I paid the amount that Turbotax calculated and reported to me.
Richard
It would be best to follow the instructions here to reach out to us by phone, as that will allow a tax specialist to look over the return. @
For the tax year of 2020, the IRS's tells me that I underpaid by $484.00. Turbotax reports $0 owed. I have spent many hours reviewing and re-reviewing my paperwork and the TurboTax generated reports, and am completely baffled! Actually, I was ready to "give the money to the IRS" when I found this message site. I'm not certain as to what you require to lessen my frustration, but I'd appreciate any ideas you can give. Thank you from Richard
Why was my refund less than the amount I filed?
All or part of your refund may have been used (offset) to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans.
They may have changed your refund amount because they made changes to your tax return. This may include corrections to any incorrect Recovery Rebate Credit or Child Tax Credit (applies to 2021 returns more than 2020) amounts. You’ll get a notice explaining the changes. Where’s My Refund? will reflect the reasons for the refund offset or different refund amount when it relates to a change in your tax return.
Tax Topic 203, Refund Offsets for Unpaid Child Support, Certain Federal and State Debts, and Unemplo... has more information about refund offsets.
According to the IRS, I underpaid and I don't know why. I paid the amount calculated by turbotax. Richard
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