0000036383 00000 n Note: Authorized third parties may assist taxpayers, but the taxpayer must be present on the phone or in-person. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. How Much Should I Offer In Compromise to the IRS? You dont need to provide an explanation or additional documents when you request the reversal, but the IRS will consider any information you provide. You successfully filed your tax return and breathe a sigh of relief that the process is over. That is confidential between you and the IRS. Enrolled Agent since 2008, Intuit Tax Expert since 2011. Did I file incorrectly? https://www.irs.gov/individuals/get-transcript. Yes. But I would call if I was you. :(. The Internal Revenue Service sends a CP12 notice when it discovers math or calculation errors that change the amount of tax that you owe. Thanks! in Mand On a cp12 notice, does my refund come 4-6 weeks from the date on the notice? What did I do wrong? After 60 days, reversal requests must be substantiated. 2022 Tax Refunds - The IRS Reduced My Refund Amount? I have not received any other notices, etc. A CP12 Notice is sent when the IRS corrects one or more mistakes on your tax return which either result in a different refund amount, or in an overpayment when you thought you owed. One, when it corrects a mistake on your tax return that results in a different tax refund amount from what you calculated. 10) Finally, press 4 for all other inquiries. Would you please check into this matter for me. My return will be processed within 4-6 weeks. Reduce the stress and cost of an audit with professional tax representationfrom first notice to full resolution. Instead, its a simple notice letting you know a change has been made to your refund. Message and data rates may apply. If I need to send you information like my Social Security Number, please let me know. Here are two sample CP12 Notices taxpayers received as a result of incorrect Recovery Rebate Credits (stimulus payments during 2020 and 2021) reported on their 2020 Tax Returns. Anyone know why I don't owe anything. Create an account to follow your favorite communities and start taking part in conversations. Would you please check into this matter for me. This notice, or letter may include additional topics that have not yet been covered here. But I was using turbotax to calculate AMT and I would have no idea which part is miscalculated so how would I be able to find which part of the AMT calculations was wrong? First choose your language. 0 Enrolled Agent since 2008, Intuit Tax Expert since 2011. @knight0614And.do NOT post your Social Security number or any other personal information here in this forum. Notice CP12 might list these reasons why your tax return results changed: IRS Notice CP12 may require some attention, especially if your refund was changed into taxes owed. Jo Willetts, EA. IRS Notice CP12 - IRS Adjusted Refund Letter | What It Means. It also says to reply or not reply by June 24th, I didn't know if it meant 4 to 6 weeks after notice, or after the date in June. Follow the instructions on the letter to rectify any changes or confirm any details the IRS is requesting as soon as possible. Every time I call they say mid August the soonest. Ways to Save on Your Taxes Despite Tax Law Changes If you still need to finish filing your taxes and see a lower refund due to tax provisions changing for tax year 2022, don't worry. Kate Ferreira is a Communications Associate with TaxAudit. Notice CP12A is usually used for changes to your Earned Income Credit. Adjusted refund amount means the IRS either owes you more money on your return, or you owe more money in taxes. The IRS can hold your refund and send you a notice asking for proof that you qualify for a credit or deduction you claimed on your return. A CP12 Notice is issued when there are mistakes on your return that require correction and an original refund amount is changed. A CP12 Notice is sent when the IRS corrects one or more mistakes on your tax return which either result in a different refund amount, or in an overpayment when you thought you owed. The IRS says that the are giving me a larger refund and a letter notifying me of why will be mailed to me and my refund given by a certain date. Looking at my cp12 notice, there are two dates. I received mine 3/14. 2 Reply trojangirl15 Level 2 May 11, 2021 11:05 AM Thanks! |^rVP '$5?23=G4'Ayg_e|n8>9|l(tR;5j|L]>tzQ3v$imK2aI5WBk.hy. TurboTax is a registered trademark of Intuit, Inc. Thank you for your assistance. Or, click the blue Download/Share button to either download or share the PDF via DocuX. 0000024250 00000 n I received a CP12 Notice on May 9, 2022. So, I would honestly assume, from what I researched, that the return can come by check or direct deposit and somewhere between 3 to 12 weeks. Looking for answers on a CP12 letter Received a notice that my refund was adjusted. The IRS sends this notice in two situations. Understanding Your CP12 Notice What this notice is about We corrected one or more mistakes on your tax return. If I need to send you information like my Social Security Number, please let me know. Remarkable-Taro-8607 . 0000033978 00000 n You should receive a refund check in four to six weeks, if you dont owe other tax or federal debts the IRS is required to collect. As a result, you are now either due a refund or your original refund amount has changed. @tvcranesthat is so frustrating. View notice image. Let us know by submitting through our Systemic Advocacy Management System (SAMS). I just got mine as well. Press question mark to learn the rest of the keyboard shortcuts. Or, when done editing or signing, create a free DocuClix account - click the green Sign Up button - and store your PDF files securely. The notice indicates a refund of $1,770 would be sent in 4 to 6 weeks. Listen to each menu before making the selection. W-4 Adjust - Create A W-4 Tax Return based, Why was your refund less than what you filed for, The IRS will only initiate contact via letter or notice in the mail, appeal rights and steps to take to prepare a protest, someone filed a return with your information, figure your taxable Social Security income here, premium, personalized assistance for your tax questions. Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement. As a result, you are due a refund of 543.00. You want to use the correct numbers when you prepare your return next year. Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. 0000037290 00000 n Not only are we able to help with letters such as the IRS CP12 we can also assist with dozens of other types of notices as well as audit letters from both the IRS and state taxing agencies! The IRS received your individual income tax return; the amount of your refund has now been adjusted. There, you can add Text and/or Sign the PDF. 0000024075 00000 n for 33 years. Enrolled Agent since 2008, Intuit Tax Expert since 2011. If you agree with the changes the IRS made, no action is needed on your part. Additionally, you might want to correct your copy of the tax return for your records to reflect the changes made on the notice but there is no need to send a copy of the corrected return to the IRS. I don't want to appeal, I just want my money. For starters, you received an IRS Notice CP12 because the IRS corrected one or more mistakes they believe were made on your tax return. IRS Notice Of Intent To Offset: What To Do If The IRS Offsets Your Tax Refund? Been preparing taxes professionally for 10+ years. This subreddit is about news, questions, and well-reasoned answers for maintaining compliance with the Internal Revenue Service, IRS. I received a notice dated June 7th, 2021. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**. Been preparing taxes professionally for 10+ years. Did the IRS reduce your refund for it? What is a CP12 notice? Below, find an inclusive list of IRS letters you may receive with a brief description of each. Nothing standard this year. 0000005410 00000 n Know how we can help improve the tax process or better meet your needs? I received Notice CP12 stating I am due an adjusted refund, dated 10-18-2021, of $1188.00. I have tried to call several times, but always end up getting an automated message that due to high call volumes my call cannot be accepted and I should call back another time. Further identity verification is needed to claim certain tax credits in the future. for 33 years. The information above is just an example of errors the IRS will correct on your return and issue you a notice for. 0000005189 00000 n New comments cannot be posted and votes cannot be cast. Then do NOT choose the first choice re: "Refund", or it will send you to an automated phone line. I spent my last 11 years at the I.R.S. This is an optional tax refund-related loan from Pathward, N.A. Please contact the Administrator John@JohnRDundon.com for immediate professional advice? You may want to correct the copy of your tax return that you kept for your records, but do not send it to the IRS. In both of these cases, the IRS stated that the taxpayers had reported incorrect stimulus payments or Recovery Rebate Credit amounts on their respective tax returns. Consent is not required as a condition of purchase. If you agree with the changes the IRS made, no response is required. 0000003676 00000 n The IRS is severely backlogged, so many things are taking much longer than normal. I filed my taxes in February 2022 using Turbotax software. Tax Professional: The IRS needs to verify your identity. I had filed February 24. Never got through the phone line any of the times I've tried in the last six months. If you qualify for our assistance, which is always free, we will do everything possible to help you. Hang in there buddy!!!". MBA, Enrolled Agent. Per the IRS, if you agree with the changes and do not respond to the notice,you should receive a refund check in 4-6 weeks. Services are offered for free or a small fee. 0000032641 00000 n Line 30 is only if you didn't get the full amount or qualify for more. Double check your bank account. What does it mean? 0000024517 00000 n How to amend (change or correct) a return you' How do I fix e-file reject IND-031-04 or IND-0 Premier investment & rental property taxes. The system should then transfer you to an agent. Then compare the return you filed with the IRS adjusted return to see what the change was. 0000006891 00000 n The letter says if I agree, I do nothing. Math Error Resulting in Overpayment, CP12 Notice, Our advocates will be with you at every turn as we work with you to resolve your tax issue, We ensure that every taxpayer is treated fairly and that taxpayers know and understand their rights. Reply . Yes. The IRS will also send you a notice CP12 outlining why your refund was adjusted. As a result, you are now either due a refund when you originally owed additional tax (yay) or the original refund amount changed. Information on your return does not match information which the IRS received from third parties. It's most likely due to an error or mistake on your latest tax return. I have also seen that there are major delays in receiving the return if you haven't got the deposit by the time you receive the notice. Please keep trying. Do you need an advocate for your tax issue? @Troun01 Need more details. **Disclaimer: Every effort has been made to offer the most correct information possible. Get a quote for audit representation now. Notice CP12 will detail a change in your tax liability as adjusted by the IRS - not by eFile.com or any other tax preparation platform. February 9, 2011. . 0000005272 00000 n for 33 years. You can either contact the IRS at the number listed on the notice or respond by mail to the address listed on the notice. After the IRS forwards your case, you should be contacted by a member of the Examination staff within five to six weeks to explain the audit process and your rights. If a correction is needed, the IRS will calculate the correct amount of the 2022 Recovery Rebate Credit, make the correction to the tax return, and continue processing it. Create an account to follow your favorite communities and start taking part in conversations. Registered eFiler: Sign in, AskIT The IRS has already begun mailing letters to some taxpayers who claimed the 2020 Recovery Rebate Credit and may be getting a different amount than they expected. Adjusted refund from recovery rebate. Notice received may 10 said return coming in 4-6 weeks. startxref I have heard mixed messages on the 4-6 weeks from the date on the cp12 notice. The letter says if I agree, I do nothing. xb``f`d`g` @Q6h1},6F.sZL[[e8*R:|6N$N !@2@L~%3 So I will keep waiting since my letter was dated 4/19 and it's not been 4 weeks yet. I am an Enrolled Agent. What you need to do Review the notice and compare our changes to the information on your tax return. (See examples below) Notice CP12T is for general changes. @janecooksgourmet- did you check the WMR tool? 0000024014 00000 n As a result: Review the notice and compare the IRS changes to the information on your tax return. Complete and send the IRS a Form 2848, Power of Attorney and Declaration of Representative, to authorize someone (such as an accountant) to contact the IRS on your behalf. Generally, you must submit the claim within 3 years from the date you filed the tax return, or within 2 years from the date of your last payment for this tax, whichever is later. %%EOF TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Press question mark to learn the rest of the keyboard shortcuts. @knight0614- no one on these boards (and no one at Turbo Tax) has access to your financial records maintained by the IRS. We can offer you help if your tax problem is causing a financial difficulty, youve tried and been unable to resolve your issue with the IRS, or you believe an IRS system, process, or procedure just isnt working as it should. . 0000035395 00000 n Is it 4-6 weeks from June 3, or the date the letter was issued (April 3)? Individual taxpayers: 800-829-1040; (800) 829-4059 (TDD). BBA- Specialization: Accounting, MBA- Specialization: Asset Management, EA. Fine. Tax audits can be stressful, but they can yield valuable results such as unexpected refunds, beneficial education, and the peace of mind of being compliant. Back Taxes Help: Get Help Filing IRS Back Taxes. xbbb`b``3 1 3q} Still waiting, and I have direct deposit as well. 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