I'm expecting a $4564 refund via direct deposit (through Tax Act).?

Question

By the IRS chart, it should be here tomorrow. This morning there was a deposit for $701.10 in my checking account which reads "tax/financial services"....if the IRS had a problem with my refund, would they send a portion of the refund? I haven't heard anything from them.

Answer 1

By law, the IRS has to notify you if there was an issue with your tax preparation and there was a change to the refund amount. They will send you a written notification in the mail stating whatever the issue was, their calculation of your new refund amount, and the date you will receive it.

Answer 2

If I understand you right, you are talking about the IRS efile direct deposit chart. What you need to do is go to the IRS website and page Where's My Refund---here's the link:

https://sa1.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

That will tell you your deposit date and also the amount of your refund. If for some reason they had to change the amount of your refund after reviewing your return, you will get a notice in the mail stating the reasons why.

I really don't think that is your IRS refund because whenever I have received a refund from the IRS, it states US Treasury Tax Refund right next to my direct deposit---It does not say tax/financial services.

Answer 3

Could this amount be your state tax refund?

Answer 4

You would get a letter in the mail to inform you of any mistakes or liens on your tax return....sometimes it takes longer to get that than your return .

Answer 5

they send you whatever amount is leftover after they take their cut, i use taxact all the time and they're legit. that may also be your state tax that has been deposited in ur acct.