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What do I do with my Refund check from the IRS that was nearly double what I determined on my Return?

I believe my IRS Return accounting is correct. I checked twice. But yesterday, I received a Refund check from the IRS for nearly $400 over the amount I calculated. I don't want to deposit it because I believe it is the wrong amount and I don't want to pay interest should some of that amount have been inadvertantly disbursed. I checked the IRS site and asked. It wasn't of much help. Any ideas?

Larry asked in Finance/Insure/Legal over 2 years ago | Report

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  • Pmkn_facesucker_small
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    Yes, you will get a letter explaining the change. You also might be able to get some details of the situation if you plug in your info on this site:

    https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

    A LOT of people are getting bigger refund checks than expected this year because they didn't calculate the Making Work Pay credit of up to $400/person. Very charitable of the IRS to catch this on returns, I guess. I don't know if this is your issue, but in any case, feel free to cash it.

    meggo answered in Finance/Insure/Legal over 2 years ago | Report
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  • Icon_small
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    Something similar has happened to me two years in a row. Although, in my case, I didn't get a refund, I simply overpaid what I thought I owed and the IRS sent some of it back. You should have received a letter from the IRS explaining that you miscalculated your return.

    keshmeshi answered in Finance/Insure/Legal over 2 years ago | Report
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