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elledanid
New Member

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

 
6 Replies
xmasbaby0
Level 15

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

No one can see your screen or your tax return, so no one knows what changed or why.    The software still needs lots of updates and you most likely still have to wait for a number of income documents to enter before you can complete your return.   You cannot e-file yet.    Be patient and wait for ALL of your information to be entered so that the calculations are based on the right information and are being done by updated software.

 

 You still need your 2021 W-2's and any 1099's that will show your income for 2021.    Those will not be issued until around the end of January. 

 

The tax forms are not ready yet. The software still needs lots of updates.  Go to the REVIEW tab to see which forms in your return are incomplete and the estimated dates they will be ready (dates always subject to change) and sign up for the email alerts if you wish.  

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
fanfare
Level 15

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

It's a good idea to go over your return several times, reviewing it carefully to be sure it is correct before you SUBMIT.

 

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason,

AND, to find your AGI next year.

elledanid
New Member

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

yep, I know ALL of that already, thanks. Just wasn’t sure if this might’ve happened to someone else and then corrected itself before I have to file. Have a great day!

Critter-3
Level 15

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

First the Refund-O-Meter is only correct once all your income and expenses have been entered and the program is fully operational.  

 

Next ... the program interview flow is  poorly designed  and it  will give you a false refund total early in the interview.   The program gives you 100% of the CTC and the third stimulus credit once you have completed the MY INFO tab early in the interview  and much   later in the deductions & Credits tab  you are asked how much of these credits you got in advance and the credits are then adjusted for the advance payments which will show as a reduced refund amount or an increase in the balance due.  

xmasbaby0
Level 15

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

The "refund meter" often starts out showing a big refund; then as more data is entered the refund changes.   It is just so tempting to people to believe that the big refund was the "right" amount and then they get upset when the reality of the data they entered changes the refund.  The refund meter should never be taken seriously until ALL of your information has been entered.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
fanfare
Level 15

Why is my federal refund suddenly lower than it was before when I first went over my taxes through here? It’s over a thousand dollar difference which is ridiculous.

 

Just today I noticed that I entered a certain amount with the 2020 value instead of the 2021 value.

My refund changed.

The tax software is not final still.

More data entry to come.

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