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dpress1
New Member

Why is my deposit significantly lower than my refund

Hi!

 

I got my refund today. It was originally supposed to be $3150. Just over $700 was deposited today and I should've only been charged about $150~ by TurboTax. My questions are:

 

-Would this deposit be a combination of my federal and state refunds? Or could I be expecting more payments?

-Why is it so much lower? I might've still owed maybe $100 on my taxes from last year, could the interest have brought it up that much?

-Where can I go to find a receipt of the payout breakdown? 

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1 Reply
CatinaT1
Expert Alumni

Why is my deposit significantly lower than my refund

Know that your Federal and State refunds will come separately. Your refund could also be offset.

The IRS and State Governments have the ability to offset a refund to pay for certain past due debts.  You generally will receive a letter stating what the offset was for.   

The IRS provides a toll-free number, (800) 304-3107, to call for information about tax offsets.

 

To see what you are being charged from TurboTax please follow the instructions in the following FAQ: Review Fee's 

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