Refund shorted

Forum|Forum|4 years ago
March 16, 2022
1 reply
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My refund was $6,000 shorter than it was accepted for. My coworkers was $1,000 less than... This is very concerning. Who do we contact regarding this issue?

Cynthiad66

The IRS made the adjustments to your refund and will provide a Explanation of Adjustments notice in a few weeks. TurboTax does not have any information from the IRS about the status of your return because it is a Privacy issue. The IRS is the only source for answers on your refund because they determine or make adjustments.

However, we have noticed that these adjustments are basically due to not reporting the amounts received as Advanced Child Tax Credit or Stimulus payments received in 2021. If these amounts are not shown on the return, the IRS will make adjustments to account for them.

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awlinebargerAuthor

We did not receive all of the stimulus or CTC.

Vanessa A

You should receive a letter from the IRS telling you why your refund amount was changed. The most common reasons so far this season are:

You did not enter that you received the stimulus payment in TurboTax, so your return said you were getting the money back, but the IRS caught it and said, no, you already received it.
- If you look at line 30 of your 1040 and it shows an amount there, and you already received the $1,400 per person last year when they sent out the stimulus payments, this is likely the reason.
- If you do not remember getting the stimulus payments you can go back through your back records to double check. Many people either didn't realize they did receive it or they forgot, but end up seeing it when they go back through their records.
- The Recovery Rebate is ONLY for those who did not get the Third Stimulus Payment.
You did not report the full amount of your Advanced Payments for the Child Tax Credit that you already received. Again, the IRS will catch this and make the changes to your return.
- This would show on line 28 of your return. If you have 2 kids and you see $6,000 on line 28 then the IRS records show that you already received $3,000 in Advanced Child Tax Payments, but you entered that you did not receive any.
- Again, if you do not remember getting these payments you can go back through your bank records from July-December.