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February 7, 2020
Question

Where is my money

  • February 7, 2020
  • 1 reply
  • 0 views

My refund was $6520.00. My fees for filing was $120. My refund should be $6400.00. Instead my refund is $5149.00 so where did $1251.00 go to?

    1 reply

    Employee
    February 7, 2020

    MY REFUND WAS LESS THAN I EXPECTED

    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.  Federal refund line 20 on Form 1040

     

    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

     

     

    Reduced Refund     https://www.irs.gov/taxtopics/tc203

     

     

    To see back taxes owed 

    https://www.irs.gov/uac/view-your-tax-account

     

     NOTE: You can contact the IRS Treasury Offset Program Call Center at 1-800-304-3107 to ask if they have an offset for you on file. TurboTax would not have that information.

     

    https://turbotax.intuit.com/tax-tips/tax-payments/who-can-garnish-an-income-tax-refund/L7cPPzDyc

    **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.**