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April 1, 2023
Question

Last year my return was wrong and I ended up owing money. Will this affect my return this year?

  • April 1, 2023
  • 1 reply
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And how did Turbo Tax get it wrong? The mistake happened when I added the governnment subsidies, the covid money we received.

1 reply

Employee
April 1, 2023

No the mistakes made with the recovery rebate credit or the child tax credit payments will not affect your 2022 tax return.   If you paid the amount you owed when the IRS billed you, then you have a clean slate for 2022.

 

"And how did Turbo Tax get it wrong? "   A lot of people made mistakes with the information they entered regarding the stimulus checks they received and/or the advance monthly child tax credit payments they received, resulting in reduced refunds or tax owed.  If you made a mistake and said you did not receive the $1400 per person stimulus checks, or entered the wrong amount for child tax credit payments---that was a user error.  The IRS looked at all returns with amounts on lines 28 or line 30, and often had to correct the mistakes.

**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.**