Wrong total

Forum|Forum|4 years ago
May 2, 2022
1 reply
5 views

HI,

I used Turbotax to do my taxes and e-file.

The program said I owed a small amount, so I paid it along with the price of the program.

The IRS has sent me notice that TurboTax miscalculated my taxes as $700.00 to low and I own that.

What are my options? Does Intuit/TurboTax have any culpability in giving me incorrect results?

How do I find what was miscalculated by the program?

Thank you.

M Layton

Level 2

Something similar happened to me. According to TurboTax, I was getting a $932 return. This week I received a letter from the IRS informing me that in fact I owed them $468 PLUS $0.87 in interest. TurboTax was off by $1400 and I look like some deadbeat who doesn't pay their taxes.

VolvoGirl

Level 15

$1,400 is the amount of the 3rd Stimulus payment. Did you already get the Stimulus payment they sent out last year starting March 2021? The IRS has records that show you were sent the 3rd stimulus payment so they removed the $1,400 Recovery Rebate Credit.

Do you have 1,400 on 1040 line 30? You might have tried to claim it again. Line 30 is only if you didn't get the full amount or qualify for more.

Did you get IRS letter 6475 saying what they sent you? If you didn't get the IRS letter 6475 saying what they sent you then check your bank statements and check your IRS account to see when and what they sent you.

Your Online Account | Internal Revenue Service

If the IRS thinks they sent it to you but you didn't get it request a trace for a missing third Stimulus payment

https://www.irs.gov/newsroom/questions-and-answers-about-the-third-economic-impact-payment-topic-j-payment-issued-but-lost-stolen-destroyed-or-not-received Your Online Account | Internal Revenue Servic

M Layton

Level 2

I did get the first and second stimulus checks, but not the third, yet it's showing up on Line 30. I will investigate this further!

Edit: I DID get the third stimulus check and deposited on the same day as the second stimulus check! I remember getting the letter giving me the heads up that I should have received the second check, I remembered opening the second check, but the third stimulus check is a complete blank. I'm glad they caught my mistake and I was able to pay what was due.

Thank you so much, VolvoGirl! And TurboTax, I'm sorry I badmouthed you! I'll see you guys next April!