I got my Tax refund for 2012.

Asked over 1 year ago - Fremont, CA

I did my taxes on my own in Turbo Tax, I got Tax Refund $1481 and submitted. Today I got refund check with amount showing $2603.

It shows - PAYMENTS/WITHHOLDING ..... $1481
ESTIMATE PMTS: 04/15/2012....$1122
REVISED BALANCE..... $2603

I don't understand what is this ESTIMATE PMTS: 04/15/2012
Why I got more.... If I have to review my taxes can I do it again and submit to IRS for the year 2012.

Attorney answers (4)

  1. Steven M Zelinger

    Pro

    Contributor Level 20

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    Answered . An estimated payment would be typically made by a self-employed person who has to make quarterly payments because they don't withhold taxes (or not enough). It also could be a credit from a prior period...I would not touch the money and call the IRS for an explanation to determine if this is correct to make sure you didn't receive someone else's refund which by the way is not yours so you don't want to spend it. You may also review the situation with a CPA or enrolled agent who can call the IRS to help you get the info.

    This is not legal advice nor intended to create an attorney-client relationship. The information provided here is... more
  2. Paula Brown Sinclair

    Contributor Level 20

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    Answered . Your account was credited on the income tax due date last year. Did you by any chance have a refund due last year that you directed toward your 2012 taxes due?

    If that does not explain the higher refund sent to you this year, you will want to have the situation reviewed by a CPA or IRS enrolled agent.

    Best wishes for a favorable outcome, and please remember to designate a best answer.

    This answer is offered as a public service for general information only and may not be relied upon as legal advice.
  3. Henry Daniel Lively

    Contributor Level 20

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    Answered . Apparently, the IRS is reflecting additional payments that you were not aware of when you filed your return. You have estimated payments that typically come from applying a refund from the previous year to the current year, or additional payments that were made as estimated taxes during the year. You can request an account history statement from the IRS to determine where this payment actually came from.

    H. Daniel Lively, Esq., LL.M., CPA Certified Tax Specialist, CA Board of Legal Specialization dlively@... more
  4. Jenny Rutledge Wilson

    Contributor Level 2

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    Answered . It sounds like your 2011 income tax refund (or some portion of it) was paid toward your 2012 income tax bill, instead of being refunded to you. This is typically the case when the estimated payments date is April 15. Look at a copy of your 2011 return. Did it show a refund due to you? If so, was the refund (or some portion of it) listed on the line for apply refund to your 2012 taxes? If yes, and the amount applied to 2012 was $1122, everything is okay. If not, I would contact the IRS.

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