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Tax Refund Questions

Forum|Forum|5 years ago
March 19, 2021
8 replies
28 views

Few people with Schedule Cs complain that they received a smaller refund amount that the amount showed on their tax returns.

Anybody else experiencing this?

Is there a glitch with proseries, or am I doing something wrong?

This is the first time in years that people called me about this issue.

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

Did you choose to defer the SE taxes? If they had a refund that wasn't an option, so those deferred taxes reduced the refund.

Look on Sch 3, Part II, Line 12e is that the amount that their refund was reduced by?

abctax55

Level 15

Did these folks also have EIP/RRC on the returns?

HumanKind... Be Both

G

Ghost-TaxAuthor

Level 4

No, they did not. They have already received those prior.

Just-Lisa-Now-

Answer

Intuit Community Champion

Did you choose to defer the SE taxes? If they had a refund that wasn't an option, so those deferred taxes reduced the refund.

Look on Sch 3, Part II, Line 12e is that the amount that their refund was reduced by?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

abctax55

Level 15

Ah...good guess as Sch C was mentioned.

HumanKind... Be Both

qbteachmt

Level 15

Did you try to defer some SE? If they already had a paid in balance (were owed a refund), there is no deferral of SE, since it was considered already paid in.

The IRS has refund resources:

https://www.irs.gov/pub/irs-pdf/p2043.pdf

https://www.irs.gov/refunds/what-to-expect-for-refunds-this-year

https://www.irs.gov/taxtopics/tc152

https://www.taxact.com/support/770/2020/causes-for-delays-in-refunds-from-the-irs?hideLayout=False

https://www.investopedia.com/taxes/7-reasons-why-you-havent-received-your-tax-refund/

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G

Ghost-TaxAuthor

Level 4

Thank you, I think that this might be it and possibly something also that might have to do with unemployment compensation received for self-employed during the pandemic period.

PATAX

Level 12

Ghost tax, I have not experienced this issue at all... I doubt if it is a pro series software issue... It could be something unique to the client, ie maybe they owe money via a lien or something similar and the IRS reduced their refund for this... Hard to tell .. It could also maybe have something to do with the economic impact payments calculation...Just my opinion

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