Why Didn’t I Receive My Full Amount From the IRS?

Surprised by your tax refund amount? It's not uncommon to receive a smaller refund than you anticipated. Several factors could be at play:

Possible Reasons:

• Errors or Omissions: Even a small mistake on your tax return can affect your refund. Double-check your numbers, personal information, and any deductions or credits you claimed.
• Missing Documentation: If you claimed deductions or credits (like the Child Tax Credit), the IRS needs proof. This might include W-2s, 1099s, or other supporting documents. If these are missing or incomplete, it can delay your refund or reduce the amount.
• IRS Review: The IRS may select certain returns for a closer review. This can happen if they see anything unusual or need additional information to verify your deductions or credits. While this review is happening, your refund may be held up or not fully funded..

What You Can Do:

1. Review Your Return: Take another look at your tax return to ensure everything is accurate and complete.
2. Check Your IRS Account: Log into your IRS account online and check for any notices or updates about your refund. You might find information there that explains the discrepancy.

• Contact the Bank: You and your client should call the bank that processed the transaction and inquire why the refund was reduced. They will give you a breakdown of the transaction.

1. Contact the IRS: If you can't resolve the issue yourself, contact the IRS directly with your client. They can provide the most accurate information about your specific situation and help you understand any necessary next steps.