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edathumpadi
New Member

Why is my refund much smaller than shown on the return filed electronically

I am supposed get a refund of 2405.00 where as they deposited only $51.00 to

to my bank account and did not give any reason.

3 Replies
fanfare
Level 15

Why is my refund much smaller than shown on the return filed electronically

was your tax return complete and correct ? probably not.
xmasbaby0
Level 15

Why is my refund much smaller than shown on the return filed electronically


There can be a number of reasons why your refund was less than the amount you expected. First of all, look carefully at your actual tax returns.  There is sometimes confusion about the amount of refund to expect when users misinterpret the “summary” they saw in TurboTax. The amount of your refund is on your tax return.

TurboTax does not receive feedback from the IRS regarding money that was offset from your refund.  If you owed back taxes, child support, student loan debt, etc. you will receive a letter of explanation from the IRS in several weeks.  The WMR site will contain a message regarding your offset.  It is also possible that the IRS caught a mistake you made and reduced your refund. 

 It is also possible that your state reduced your refund for debts owed in your state—if the state reduced your state refund you will receive a letter from the state.

https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts

 IRS Treasury Offset Program Call Center at 1-800-304-3107

Be aware also that your Federal refund and state refund do NOT come together.  Federal and state tax returns are processed by two completely separate entities.

Did you choose to have TT fees deducted from your Federal refund?  (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99)

How can I see my TurboTax  fees?   

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

 https://www.irs.gov/uac/tax-refund-offsets-pay-unpaid-debts

 


**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.**
Anonymous
Not applicable

Why is my refund much smaller than shown on the return filed electronically

are you looking at TT summary and see the $2405.    Do you have state income taxes?   if the answer to both is yes the $2405 you see is a net of federal and state.    if not,   check your 1040 line 20a.  if it isn't $51, then in 2 or 3 weeks you should receive a notice from the IRS explaining the change. 

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