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.
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 informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature. Visit Steve Zelinger's website: http://www.stevenzelinger.com/
Social Security Lawyers
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.
Estate Planning Attorney
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.
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 firstname.lastname@example.org www.USTaxRescue.com 714-708-2593 Mr. Lively is a Certified Tax Specialist by the State Bar of California Board of Legal Specialization. He can be reached at 714-708-2593 or USTaxRescue.com.Any individual seeking legal advice for their own situation should retain their own legal counsel as this response provides information that is general in nature and not specific to any person's unique situation. Circular 230 Disclaimer - Advice given in this response cannot be used to eliminate penalties with the IRS or any other governmental agency.