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If it can't be explained by a simple calculation, then they had a delinquent tax bill lurking in the system. For some reason it was missed when the initial refund was issued, but the stimulus payment picked it up. Maybe it was an old CP2000 (for some interest, dividends, or a wayward W-2) that was never responded to due to an expired address change or something else unusual.
It will be explained when they get their notice - IRS always sends a notice when they adjust a payment upwards or downwrds, but sometimes the payment precedes the notice. It;s nothing to get excited about, but as I said they can always pay the $250 research fee if they just can't stand to wait for the notice.Last edited by JohnH; 05-09-2008, 09:52 PM."The only function of economic forecasting is to make astrology look respectful" - John Kenneth GalbraithComment
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Since it was calculated to the penny, there is some kind of penalty and interest being subtracted from the refund. Like others have said, it sounds like there was a previous unpaid federal debt that has penalties and interest tacked on.Last edited by Bees Knees; 05-10-2008, 07:38 AM.Comment
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Could it be that some new federal debt
considered that but he said that he got his 2007 refund.............
has surfaced since he received his refund last year? Maybe there was something between last year and now that he owed and this was deducted.Comment
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Where did the money go? Could it have been some kind of account that charges a fee?JGComment
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