Has anyone else used turbo tax? We filed a few weeks ago and the refund was deposited into our account today.....BUT the refund was $600.00 less than Turbo Tax said that it would be. Who do I call? Is it Turbo tax? The IRS? I want our $600! Someone who knows more than I do....Please tell me what I should do! Thanks, -Bearz
did you print out what was sent to the IRS? I would call the IRS if it was me. I used them and didn't have any problems getting what was on the paper, it was the time frame that it was sent that I had a problem with this year. Sheri
If you are positive there is a discrepency between what TurboTax said you'd get back and what you actually got back, you should call the IRS. They made the change and will know why they did.
If the amount is exactly $600.00, there is the chance that it has something to do with the stimulus checks which were mailed out in 2008, as that is the amount alloted per person. With a copy of your tax return in your hand, call the IRS. It will be a bit of a wait on hold however they should be able to easily state why there was a discrepancy.
As I understood it, and I could be wrong, the stimulous checks were not supposed to affect your refund.
We have used Turbo tax for years. Purchased Turbo Tax yesterday and just finished filing our Federal and State by e-file. Turbo tax is a great personal income tax return software program.
The stimulus check was for $600.00 per person for those who were eligible for the money. If you had an outstanding lien against you for anything from back child support to college loans to anything else which the IRS is able to withhold your federal funds, then the stimulus check would be used against these liens. If you received the stimulus check and then were found not to be eligible to have received it, then the IRS could keep the equivilent from your federal refund check. There could be a situation in which the stimulus money would affect your federal income tax return. There is a location on the income tax return in which you are to report to the IRS how much you received during the year. If there were stimulus money you were owed then it would be added to your refund. If there were stimulus money you were not eligible for then it would be deducted from the refund. I'm only suggesting that the dollar amount the tax return is off is the exact dollar amount 1 individual would be eligible for through the stimulus money. It's possible it has nothing to do with the stimulus money, however, the dollar amount matches and there is a possibility in which it could be this. Just a possibility.
If you look at line 70 of the Form 1040 you will see a location in which a dollar amount might be inserted if you were owed stimulus money. (Recovery rebate credit)
e-filed in january. still waiting for refund from nc. i would not be surprised to see madam govenor raid the education lottery fund to send tax refunds. wral has featured this problem for several days. heat is on the govenor.
I wish we could use Turbo Tax. Our taxes are complicated between the corp and personal and I'm too dense to figure them out and not get scalded so we pay through the nose for tax prep. I know my guy saves us a ton of money over doing it myself but wow is he expensive! But then I don't even do my own payroll. I know that is pathetic. Math is just not "my thing" I'm afraid. And DH is way too busy. BTW, anyone have recommendations for payroll specialist? I use someone out of Raleigh and they charge me around $110 per month for 2 employees, and to file quarterly corp taxes. That HAS to be too high, doesn't it? It's not a standard amount, we pay ourselves a different amount each month depending on how much the corporation brings in. (Sorry, Hijack!)
if you live in clayton i would call steven cauley @553-5291. his firm, travis hill, recently merged with another group. they are on nc 42 very close to west clayton elementary. he will give you a honest answer.
We are calling the IRS today. (I am prepared to spend at least an hour on hold.) Anyway, the only thing I can figure is that both my husband and I got a $600.00 check last year.....but we were not married at the time....so we were both still entitled to it. We were married in September....well after the checks were sent out. But we did put on the tax return that we both got it....maybe that's the problem. We'll find out soon enough. Thanks for all of your words of wisdom. -bearz
GIRL! Tyndal, Stroud CPA's! Derek Stroud. He does our quarterly, and year end stuff. I do everything else. His # is 863-4180. LOVE HIM!!!
$100/hr, BUT he's done with my quarterlys in about 30 mins so.... $50 :mrgreen: AND he comes to my house! You can do your own payroll thru QB, that's how I do it. DH and I are the only 2 *employees* everyone else is sub-contractor paid. (responsible for their own taxes) That way it saves us $ on our monthly taxes which is about $700/month. If you are looking to save some cash Derek would *show* you how to do your own payroll. He's cool like that. Tell him I referred you to him. (use my REAL name) :lol:
Well, after talking to the people at Turbo Tax, we have learned that the $600 was as result of the stimulus package from last year. Basically, they told us that it was an advance on our refund. Has anyone else heard of this??? I did not think it was supposed to effect our taxes. If that's the case, I wish it had not even been included on our refund amount.....now i'm all dissappointed because we have $600 less than I thought we would have. I'm going to go pout and moan now...... : (
I have heard of it.....:? it stinks....but you shouldn't pout, you actually did get the $600, just at an earlier date. :mrgreen:
