I still consider this to be a problem with the program. Paid online including the 2 dollars interest. The program is including a penalty which the IRS is not requiring. Anyway, It comes down to paying an extra 1400 plus interest. Even my IRS account does not have the correct amount. In 2021, I had one dependent plus my wife. In 2019, I had two dependents plus my wife. The IRS based the credit on my 2019 taxes because I had not filed my 2020 yet. My situation is a bit more complicated as well. Ok, after searching for 6475, I found the question under "Federal Review". It is clearly on the 1040 form and you can zoom to the worksheet, but I never filled out the worksheet and I still cannot find where the program asked me for this information. I went back to turbotax to determine what I did wrong and it does not show the incorrectly claimed 1400 in the "I'll choose what to work on" summary for "Decudtions & Credits" or "Wages & Income". I received the IRS letter yesterday indicating that I claimed this credit incorrectly. If you checked your bank account in the March - May 2021 timeframe and there is not a EIP3 payment from the IRS then go to this IRS website for how to start a trace on the payment. If you are Married Filing Jointly also check your spouse's tax account. Go to this IRS website for your tax account to see if the 3rd stimulus payment is entered. If your refund is short then that is because you said you did not receive the 3rd stimulus payment and the IRS has records that show you were sent the 3rd stimulus payment so they removed the Recovery Rebate Credit that was entered on Form 1040 Line 30. Does anyone know if this will be paid our separately? When I did my taxes in Turbo Tax Deluxe it calculated a recovery rebate credit and added it to my total refund. I have not heard that there has been a problem with this process of reconciling the Recovery Rebate Credit for the just received by IRS refund but it did not include the recovery rebate. To verify that they are correct, go back to your bank and look for a deposit made sometime during February or March 2021. If the IRS is not sending you the Recovery Rebate Credit (3rd stimulus check) then that tells me that you have already received the credit. The Letter 6475 that was sent out to taxpayers told them what the IRS records show they received. I am not aware of the IRS sending out letters to taxpayers that they did not get the Recovery Rebate Credit. If this amount is entered incorrectly that is not a TurboTax problem as it can only calculate based on what it is told. This is not a problem with TurboTax as the taxpayer has to enter the amount received or not received. The Taxpayer is asked what they received. The IRS sent out Letter 6475 to let the taxpayers know what the IRS records show was paid to each taxpayer. The IRS issued a Recovery Rebate Credit based on the information from your 2020 return. TurboTax will calculate the amount of Recovery Rebate Credit you should have received based on the information you are entered into your 2021 return.
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