I was refunded more money then I paid out. What do I do??? Am I going to get audited???
2007-09-21 00:40:21 · 5 answers · asked by aeidensmommy 3 in Business & Finance ➔ Taxes ➔ United States
If you were refunded more money that your tax return indicated you should receive, then your return was corrected and an explanation should have been sent.
Lots of people get more money back than was withheld from their wages. This is due to "refundable" credits that can pay you whether you paid taxes or not. Most common refundable credits are the Additional Child Tax Credit and the Earned Income Credit.
Look at your tax return to see if these credits appear.
2007-09-21 00:52:31 · answer #1 · answered by ninasgramma 7 · 2⤊ 0⤋
Who did your taxes? If you paid someone to do them take them there and ask about it.
Since your names insinuates you are a mommy, you do get child credits and some other things for tax breaks that will sometimes refund more than you would think, again check with your tax preparer.
2007-09-21 07:47:01 · answer #2 · answered by candleslightup 2 · 2⤊ 0⤋
Did you claim Earned Income, Credit. Phone Tax Credit. If your return was prepared by someone else, ask them for an explanation.
2007-09-21 12:14:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Usually you get some information about why they are paying you that money. Perhaps there was something you should have filed for and didn't. Call the IRS and ask or ask the person that did your taxes-first.
2007-09-21 07:49:23 · answer #4 · answered by towanda 7 · 0⤊ 0⤋
no don't do anything.
2007-09-21 07:48:16 · answer #5 · answered by jwburton3 3 · 0⤊ 0⤋