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Return went from a credit to owing

Forum|Forum|4 years ago
March 29, 2022
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Hello, my return went from receiving a Credit to now owing the IRS money. It's saying my Total payments and credits are lower that what was calculated and submitted. I entered all fields accurately.

Where do I go from here?

Best answer by VolvoGirl

Is Form 6419 the correct one to verify what was sent?

6419 is what they sent for the Child Tax Credit. The Recovery Rebate Credit is form 6475. Each spouse gets a letter for half. So you need to add both spouses together.

But you should check with the IRS what they sent you.

Check your IRS account (both accounts if married)

Your Online Account | Internal Revenue Service

B

bmajeski29Author

More information.

I have all 3 of my kids listed as Dependents. But on Schedule 8812, Line 4a it lists 2 and then on line 6 it lists 1.

On the beginning portion of the return that lists my Demographic information and then Dependents, it has 2 kids listed for "Child Tax Credit" and then one is checked off as "Credit for other Dependents".

is this the reason the IRS is saying I owe money. Please advise

VolvoGirl

Employee

How old is the oldest?

A common reason is you claimed too much Child Tax Credit on line 28 but the IRS had already sent it to you. Did you check 1040 line 28 for it? That is the remaining credit you get, not the advance you already got. It either adds to your refund or reduces a tax due.

How old are your children? You get Child Tax Credit of 3,600 for under 6 and 3,000 for 6-17. How much Advance credit did you get? Only the remaining amount should be on line 28.