I received my tax return as a direct deposit and it was $1000 more than I had figured it to be. What should I do?
2007-03-04 08:27:24 · 5 answers · asked by terry b 1 in Business & Finance ➔ Taxes ➔ United States
You most likely made a math error on your return. Usually though, the IRS will notify you that they made a correction on your return. At least the one time I did that, that's what they did. I got more and a notice from them there was an error and they had corrected it.
Sure enough, I went back and redid the return and I had made an error.
If they just gave you an extra $1000 because someone at the IRS put the wrong number in, I don't know what you do. There is an IRS 800 number you can call. The temptation to keep it is strong, I'm sure but man. I don't know about you but I wouldn't mess with the IRS. I'd call them and tell them you think they sent you too much.
2007-03-04 08:32:54 · answer #1 · answered by Faye H 6 · 2⤊ 0⤋
It's very likely that you made a mistake when you filled out your return and they found it and corrected it. However, I would wait to spend it until an official letter or notice comes in the mail which explains why you are getting a larger refund. They always send notices to those returns that they had to change or that were incorrect in their computation. If you need to know quicker, just call them and ask and they will let you know why there is a difference or if it was a mistake for some reason. Just try not to spend it until you know for sure!
2007-03-04 10:33:15 · answer #2 · answered by Shelah 1 · 3⤊ 0⤋
It usually means that the IRS did a quick check on your return and found an error in your return. You will receive some supporting documents in the mail explaining it.
My advice is use the opportunity to put some money into savings for your future.
2007-03-04 08:31:09 · answer #3 · answered by Insurance Biz CT 5 · 2⤊ 0⤋
Wait a few weeks before you spend it. The IRS usually will send out a letter stating that either you made amistake and the refund they sent you is the corrected amount or they goofed and you need to return the money.
2007-03-04 08:30:59 · answer #4 · answered by CctbOh 5 · 2⤊ 0⤋
If the IRS adjusted the amount of your return, it is almost guaranteed they found a math error on your return. They should be sending you an explanation in the mail. You could call them at 1-800-TAX-1040 and ask for an explanation.
2007-03-04 11:31:17 · answer #5 · answered by STEVEN F 7 · 1⤊ 1⤋