I just received my tax refund and it is much more than the amount on my return.?

Question

has anyone ever had a similar experience? The IRS said that I'd receive a notice in a few days explaining why the amount is different. They also said if I'm certain the amount is too high, to return the check explaining why. I have no idea as to why they sent me so much more, but I'd sure like to keep it. What's the chances that the IRS is right? Is it interest that they're paying me? It says interest on their check.

Answer 1

I personally have never had this experience, but it is entirely possible to have this occur. It could be that they found an error in the tax return submitted. They're not completely money hungry, sometimes they do look after the taxpayer.

Answer 2

It is possible that they did make an error. I received a refund one year for more than I thought my wife and I should have received, and what ended up happening was that the IRS had credited someone's tax payment to my tax information. I had returned the check to the IRS without having cashed it. But that was only after talking to the IRS to find out what the problem was. I did get a follow up notice from the IRS saying that they had paid me in error, and that they wanted interest from me in addition to the amount of tax they paid me in error, but because I had not cashed the check I didn't owe them the interest.

Answer 3

I can understand you wanting to keep it, I would too, but in my experience, if it seems to good to be true, it probably is. I would hang onto the check and not cash it or spend any of it till you receive the letter from the IRS. If you had someone else do your taxes for you this year, I would check with them too, or maybe make an appt. to see an accountant. The IRS has been known to let this kind of thing go for years, and then want their money back.

Good luck.

Answer 4

I once got a larger refund than I thought I should get. I failed to include one check of estimated tax that I paid in middle of the year. Their computer noticed my error, sent me the right amount, and sent me a letter explaining this. Do you want us to guess what they IRS letter will say? Go to the psychic section of yahoo answers....

Answer 5

You checklist it in year gained till you itemize on your taxes, it incredibly is unimportant in spite of the undeniable fact that the question is not any rely if or now not you gained any refunds for in the previous years (to 2010) The regulation transformations taking off in 2011, that no rely in case you get carry of a reimbursement, you're able to suitable be socked with outcomes for failing to timely checklist your return

Answer 6

A lot of times people forget or not know that they can claim EIC (Earned Income Credit) if they have children or if they did not make enough during the year if they do not have children. I would call IRS yourself and see if they can give you an explanation or wait for the response in the mail.

Answer 7

They might have found an error and corrected it. But I would just hold onto the check and not cash it until you get the letter explaining what happened. If you don't get in within a week, call them again.

Answer 8

It might be your mistake, or it might be theirs. Wait for the letter and see. It is possible you missed a credit or made a math error. Or it could be your error. Don't do anything until you receive the IRS letter.

Answer 9

Wait for their explanation to come in the mail. If it makes sense, keep the money. If it doesn't, return the check with an explanation.

Answer 10

Return it too them and ask them to review your tax payments and why you u had received such amount for a refund.Have not experience it but im sure in the future you will be chase to pay it back.Better be safe....