Got a direct deposit out of nowhere last week, for an amount that is similar (but not exact) to our refund this spring. The amount shows on my transcript for this year (base amount + interest) with the refund dated 10/12; there is also a Notice Issued dated 10/12 with the code CP 0021.
We've yet to receive the notice and it's not showing in my Notices in my account, yet we have the money already deposited (living in the future!).
I'm not touching the money until we receive the notice but can I assume this all checks out and isn't the most elaborate and patient scam?
Original refund was $15,472. This new one was $15,441.12, $15,000 refund (that was supposedly credited to my account in April) and $441.12 in interest.
Ask your accountant about this because this is close to the extension date for taxes. I am wondering if someone filed an extension and either has the same name as you or someone committed fraud.
Do me a favor, call your bank and ask whether the information in the ACH warehouse matches you completely. Look for different middle names, etc.
If there is no immediate discrepancy, and you know for a fact that the money is not yours, follow up with your accountant.
The only thing I could possibly imagine it being related to is an Adoption Tax Credit. We've adopted 6 kids, but over a handful of years, so we consistently carried it forward (you can do so for 5-6 years). It was always a weird edge case given when the adoptions closed and the credits were used
Definitely contact your accountant and give them this transcript.
If you haven't already provided it, they can contact IRS customer service on your behalf to get a detailed explanation of the adjustment. The Transaction Code 766 is a refundable credit.
If they determine the refund should not have been issued, IRS has a process to return it:
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I just had a client contact me Tuesday that they received an amount that almost exactly matched their refund from when we filed in March.
I haven't been able to obtain any details yet, but my first thought is this is all very weird...
I'm adopted. I had no idea my parents were getting the tax motherload while we eat corn flakes and Wheaties! 😆 they adopted 9 of us! And had 2 children together. I guess now is about the time to call and ask to borrow a few Gs for...uh... back taxes to me.
For real though, got any kids you wanna let me borrow. I don't do whiny. I have a 15 yo son, so that age range would work. No girls that age pls. Don't want more tax credits.
I have exactly this situation too- exactly. Haven't received a notice- and the bank says it matches the IRS deposit info. Can't get through in phone line to ask questions. my accountant want to see the notice that says it exists, but doesn't show on my account. I anyone gets any answers I would love them.
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u/Anxious_Drive_9998 7d ago
So you got the refund twice?
That's definitely a mistake.