IRS returned less than I reported?

Question

I filled and mailed 1040EZ form to report my tax. I got the tax return from IRS two days ago, but the amount was much less than I reported. What's the possible reason? What should I do now? Thanks!

Answer 1

You should get a letter from the IRS within a week telling you why the number is different than you calculated on your return. If you don't, you can call them and ask, but if you call right away, they'll just tell you to wait for the letter.

The most likely reason is that you made a mistake on your return, by entering something wrong, calculating something wrong, or using the wrong column in the tax tables when you looked up your tax. If you'll show the numbers here for each line, somebody can probably spot what the problem was. First check the numbers on your W-2 and be sure that you entered them correctly.

Answer 2

There are several reasons.

First, your tax returns are actually TWO separate tax returns. There is the Federal tax return, and the State tax return. When you are paid from a job, taxes are automatically taken out of your paychecks in multiple forms - Federal, State, and some other miscellaneous taxes. Your Federal and State tax returns do not always come back together.

If the other tax return does not come soon, you may want to check and make sure you completed both your Federal and State tax return forms.

Answer 3

There are several reasons but the two most common is that you made a mistake of some sort or that you owed some government agency some money and the IRS was collecting that amount.